Crude prices finished about $8.50 a barrel higher last week when trading ended on Friday as fighting continued across the Middle East for a second week. Since the unraveling of the ceasefire agreement reached in mid-June, crude prices have climbed roughly $20 a barrel — and retail gasoline prices have followed suit, swelling solidly above $4 a gallon on average across the Northeast.
However, pump prices could stabilize in the coming days as crude and wholesale gasoline prices began this week sharply lower after the U.S. and Iran announced a pause in attacks on Sunday. In overnight trading, U.S. crude fell more than $6, and Brent crude declined more than $7 a barrel as markets reacted to the news. Despite the sell-off ahead of market open on Monday, crude prices remained about $14 higher than they were a month ago.
Aside from higher crude costs, gasoline prices remain under pressure from tight inventories and steady demand. Strong U.S. production helped boost supplies by 800,000 barrels last week, according to the Energy Information Administration (EIA), but they’re still more than 8% below year-ago levels. Demand climbed 103,000 barrels a day week-over-week to reach 8.9 million barrels a day, the EIA reported. While solid for late July, the figure landed 20,000 barrels a day lower than the comparable week last year.
“Pump prices have been on a rollercoaster this summer as geopolitical tensions shift between escalation and deescalation,” said Jillian Young, director of public relations for AAA Northeast. “Oil and gas markets are likely to remain unsettled as long as the situation in the Middle East remains volatile.”
AAA’s July 27 survey of fuel prices found the national average up 11 cents from the previous week ($4), averaging $4.11 per gallon. The July 27 national average price was 24 cents higher than the previous month ($3.87) and 97 cents higher than the previous year ($3.14).
As of July 27, Indiana and Mississippi had the lowest prices in the nation at $3.49 and $3.66, respectively. California and Hawaii had the highest prices at $5.64 and $5.42, respectively.
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Connecticut | $4.21 | $4.10 | $3.97 | $3.11 |
| Massachusetts | $4.13 | $4.03 | $3.95 | $3.04 |
| New Jersey | $4.18 | $4.06 | $3.88 | $3.03 |
| New York | $4.23 | $4.14 | $4.13 | $3.16 |
| Rhode Island | $4.13 | $4.04 | $3.80 | $3.01 |
Gas Prices by State Over Time
*Prices as of July 27, 2026
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search for average gas prices on national, state and metro levels by regular, plus, premium and diesel.
Last updated on July 28, 2026 by AAA Staff
Based in Rhode Island, Jillian Young is AAA Northeast’s director of public relations. She regularly appears in local TV, radio and print media to discuss traffic safety, travel, insurance and more.
