Oil & Gas

August is on track to become the most expensive month ever at the gas pump, surpassing the record average of $3.97 set in 2022, according to AAA.

“The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY!” Trump wrote in a social media post.

Major oil companies reported massive profits while fighting between Iran and the U.S. impeded petroleum shipments.

The national average price also rose for the 11th consecutive day.

President Donald Trump and his White House have enthusiastically promoted the Freedom Fuel Network, a chain of star-spangled gas stations.

The national average price for regular gasoline hit $4 per gallon again Monday after the renewed conflict with Iran and Ukraine-Russia attacks.

Trump said Wednesday that he had instructed the DOJ to probe oil companies for not lowering gas prices at the pump in line with falling costs, accusing them of “gouging” consumers.

High oil and gas prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz.

U.S. consumers haven’t stopped spending since the Iran war drove up fuel prices. But company executives and retail analysts say many shoppers are reassessing what they buy and where.

Drivers in SoCal are seeking ways to save money at the gas pump. Brittany Hope reports for the NBC4 News at 6 a.m. on June 4, 2026. 

The price of oil rose sharply after Iran reportedly cut off talks with the United States to the war. Crude oil jumped to levels not seen since mid-May.

A Georgia man has altered a Barbie Dream Camper to save gas. This broadcast aired on NBC4 at 3 p.m. on May 21, 2026.

A gas station in Pico-Robertson will be offering free gas to the first 70 customers. Brittany Hope reports for the NBC4 News at 6 a.m. on May 12, 2026. 

Trump says he will move to suspend the federal tax on gasoline amid the war in Iran, but Congress will have to approve it. Alex Rozier reports for the NBC4 News at 4 p.m. on Monday, May 11, 2026.

Suspending the federal gas tax would require congressional approval and could cost the government billions in revenue.

Gas prices have gone up some 45% since the beginning of the war in Iran. Christian Cázares reports for the NBC4 News at 4 p.m. on Friday, May 1, 2026.

Here’s what drivers said about the overnight price jump. Lauren Coronado reports for Today in LA on Friday May 1, 2026.

The average price for a gallon of regular gasoline remains above $6 Friday in Los Angeles and several other California counties. The Los Angeles County average rose 3.7 cent overnight to $6.141, the highest since Oct. 5, 2023. One week ago, the average price was $5.98. The average was $6.007 a month ago. Since the U.S.-Israel attack on Iran Feb….

To save money on gas, more people are beginning to carpool. Hetty Chang reports for the NBC4 News at 3 p.m. on Thursday, April 30, 2026.

The cheapest gas in the Inland Empire was found in Cabazon. Christian Cázares reports for the NBC4 News at 3 p.m. on Tuesday, April 28, 2026.