Drivers are still paying far more at the pump than a year ago. AAA reports the national average for regular gasoline at $4.27 a gallon on Oct. 27, 2026, up 39.8% from a year earlier. Brent crude traded at $111.07 a barrel the same day, up 2.1% from $108.79 a week earlier, according to Yahoo Finance market data.
Why Crude Is Still Elevated
CNBC reported that surging oil prices stemming from the US war with Iran helped drive September’s producer price index higher. The consumer price index also rose again in September, bringing the annual inflation rate to 3.7%. CNBC said Brent traded at a five-month high on Friday, Oct. 23, before falling slightly.
Yahoo Finance market data for ICE Brent futures shows Brent at $111.07 a barrel on Oct. 27, 2026, up from $108.79 on Oct. 20. That is a $2.28 gain, or 2.1%, over one week.
Energy costs are complicating the inflation outlook for the Federal Reserve, according to CNBC. The Fed meets on Oct. 28.
From the Barrel to Your Tank
Crude oil typically accounts for more than half the price of a gallon of gasoline, according to Fortune’s price-of-oil tracker. The rest covers refining, wholesaling, taxes and station markups.
AAA’s national average for regular gasoline was $4.27 a gallon on Oct. 27, 2026. That is down 2 cents from $4.29 the day before, but up $1.21, or 39.8%, from $3.05 a year earlier.
Diesel, which moves trucks and freight, averages $6.35 a gallon. That is up $2.69, or 73.5%, from $3.66 a year ago. It is also about 18 cents below the record of $6.5276 set on Sept. 22, 2026. Higher diesel raises the cost of trucking goods to stores, which can feed into shelf prices, but the sources give no figure for that effect.
Our Math: What a Fill-Up Costs Now
Take a 15-gallon tank of regular gasoline:
Today: 15 gallons times $4.27 is $64.05.
A year ago: 15 gallons times $3.05 is $45.75.
Per fill-up: $64.05 minus $45.75 is $18.30 more.
Per month: at two fill-ups a month, $18.30 times 2 is $36.60 more.
Per year: $36.60 times 12 is about $439.20 more.
This is an illustration built from AAA’s dated national averages, not a projection.
The week’s $2.28-a-barrel rise in Brent is small at the pump. Dividing $2.28 by the 42 gallons in a barrel gives about 5 cents a gallon in crude cost. AAA’s regular average actually slipped over the week, from $4.28 to $4.27. The higher cost drivers face comes from the year-long climb, not this week’s move.
What to Check This Week
Compare your state’s average with the $4.27 national figure on AAA’s gas price tracker.
Watch the Federal Reserve’s decision on Oct. 28. CNBC reports the Fed is expected to hold rates steady after raising them to a range of 3.75% to 4% last month. Fed funds futures priced in less than a 10% chance of another quarter-point hike this week, according to CME Group’s FedWatch tool. Nearly 75% expect at least one hike by year-end, which would keep borrowing costs high for households.
Next in the Brief: If diesel climbs back toward its $6.53 record, how much of that shows up in grocery and delivery prices?
Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
