Geopolitics Keep Gas Prices Hovering Above $4 Across the U.S.

Gasoline prices in the U.S. remain stubbornly above $4 per gallon in August 2026, driven not by ordinary supply-demand dynamics but by geopolitics in the Persian Gulf. The Strait of Hormuz remains effectively closed, tensions with Iran persist, and U.S. naval escorts are moving ships through the region, keeping prices high. AAA puts the national average around $4.06/gal and GasBuddy around $4.09; diesel is rising sharply, and Brent crude trades around the upper $90s. With energy stocks buoyant and no negotiations in sight to end the conflict, prices have risen about 45% in 2026 (up 10% since July 4), suggesting the price picture could stay elevated regardless of seasonal demand.