“This August is shaping up to be the highest on record. So far, the monthly average is $4.06, currently surpassing 2022 when the monthly average for August was $3.97. Even though gasoline demand is down, which is typical for this time of year, crude oil is pushing up the national average. Crude oil prices remain in the $80 per barrel range amid continued instability in the Strait of Hormuz,” AAA said.

Gasoline Prices 20 August 2026
• Today’s National Average: $4.1044
• One Week Ago: $4.0715
• One Month Ago: $4.0032
• One Year Ago: $3.1337

The latest data from the Energy Information Administration (EIA), show gasoline demand decreased last week from 8.96 million barrels per day to 8.68 million. Total domestic gasoline supply increased from 208.7 million barrels to 209.4 million. Gasoline production also increased last week, averaging 9.7 million barrels per day. At the close of Wednesday’s formal trading session, WTI rose 89 cents to settle at $85.83 a barrel. The EIA reports that crude oil inventories increased by 4.4 million barrels from the previous week. At 428.8 million barrels, U.S. crude oil inventories are matching the five-year average for this time of year.