Gasoline prices projected to climb back to $4 amid 'pain at the pump'

Gasoline prices projected to climb back to $4 amid 'pain at the pump' Ines Ferré · Senior Business Reporter Mon, July 13, 2026 at 10:56 PM GMT+2 1 min read BZ=F CL=F Gasoline is expected to climb to the $4-per-gallon mark again as surging oil prices and shrinking refining capacity hit supply. Prices at the pump hovered at $3. 87 per gallon on Monday, roughly $0.

08 higher than a week ago, according to AAA data. "The pain at the pump is about to intensify," GasBuddy head petroleum analyst Patrick De Haan said on Monday afternoon. Oil prices have surged as the US said it would reimpose its blockade of the Strait of Hormuz.

Meanwhile, Ukraine has knocked out up to 40% of Russian refining capacity with its drone strikes. "Motorists are facing a rare double whammy: rising crude oil prices and shrinking global supply of refined products at the same time," De Haan noted. The strategist predicts the national average price of gasoline "will reach $4 per gallon in the next 7–10 days, if not sooner.

" De Haan also forecasts that diesel prices are likely to reach $5 per gallon again by the end of this week, potentially as soon as Friday. Diesel prices hovered at $4. 87 per gallon on Monday, around $0.

13 higher than one week ago. Brent crude ( BZ=F ) futures, the international benchmark, jumped 9. 5% on Monday to trade above $83 per barrel, its biggest one-day jump since May 2020.

West Texas Intermediate crude ( CL=F ) topped $78 — levels not seen in just shy of a month. Gasoline prices climbed above $4. 50 per gallon in May following a surge in oil prices amid the conflict in the Middle East.

Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities.