US Gas Prices Hit $4.45/Gallon on Day 66 — 49% Above Pre-War Level as IRGC Maritime Zone Raises New Supply Fears

Average US retail gasoline prices hit $4.45 per gallon on May 4, 2026 — Day 66 — a new record high for the conflict, representing a $1.47 increase (49.3%) since the war began on February 28. Al Jazeera reported the figure as the IRGC's new maritime control zone announcement raised fresh fears that any US Hormuz escort mission beginning May 5 could trigger Iranian interdiction of commercial tankers, worsening the already severe Hormuz supply disruption. The continued dual blockade — US preventing Iranian oil exports and Iran preventing most commercial vessel passage — had kept Hormuz traffic at near-zero levels for weeks. The $4.45/gal national average masked significant regional variation: California averaged above $5.87/gal and Hawaii exceeded $6/gal. Budget airlines had requested $2.5 billion in federal emergency fuel aid in late April. The IRGC's new toll zone announcement — charging $1 million+ per vessel — added another potential cost layer to any resumed commercial shipping. Global energy markets remained on high alert: the IEA's historic 400 million barrel reserve release was already largely drawn down. Analysts warned that if the US Hormuz escort mission triggered Iranian retaliation against escorted vessels, Brent crude could spike above its April 30 record of $126/bbl, potentially approaching $140 or higher.