economy

Hottest U.S. gas prices in years leave drivers feeling burned

Updated on: May 7, 2026 / 10:26 AM EDT / CBS News

Hottest U.S. gas prices in years leave drivers feeling burned

TL;DR

  • Rising gas prices are impacting personal finances and daily decisions for U.S. motorists.
  • Students are skipping classes due to the high cost of commuting.
  • Low-income Americans are disproportionately affected, spending a larger percentage of their income on fuel.
  • Diesel prices have also significantly increased, threatening to raise the cost of goods.
  • Economists predict elevated fuel costs to persist for several months, with some expecting prices to settle higher than pre-war levels.