A driver buys gas at a station in Chicago, Illinois on June 9, 2026.
Scott Olson | Getty Images
This is a 5-day chart of WTI crude oil.
The national average gas price on Thursday was $3.84, up 5 cents from the day before, according to AAA. The increase comes as U.S. crude oil prices rose from about $68 per barrel on Monday to $75 per barrel on Wednesday. However, on Thursday, WTI crude oil prices fell below $72 per barrel.
Kalsi traders believe gasoline prices will remain high, but they also don’t think they will return to new highs. They say there is only a 43% chance that gas prices will rise above $4.60 this year, up from about a third of the time before the renewed hostilities between the United States and Iran.
The highest gas price in 2026 was on May 21, when the average reached $4.56. Before the war with Iran began, the national average for gasoline prices in the United States was less than $3 per gallon.
Disclosure: CNBC and Kalsi have a commercial relationship that includes customer acquisition and minority ownership.
