US gas prices hit record August high of $4.06 per gallon

US gas prices this August are the highest ever recorded for the month, averaging $4.06 per gallon — $1 more than a year ago — according to AAA data. California and Hawaii averages hit around $5.50 a gallon. Prices have surged since the US-Israel war with Iran began and the Strait of Hormuz was blocked; peace talks remain stalled and Trump has issued fresh threats against Oman.