Mike Shedlock: Gasoline prices reach highest level since July 2022

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07.05.2026

Mike Shedlock: Gasoline prices reach highest level since July 2022 — Gasoline prices hit July 2022 highs

Mike Shedlock, author / blogger at MishTalk, reports that gasoline prices have reached their highest level since July 2022, with diesel prices only 14.2 cents away from a new record.

According to Shedlock, gasoline has topped $4.50 per gallon, disproportionately impacting the lowest income groups.

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Shedlock has previously noted that year-over-year U.S. PCE inflation climbed to 3.5 percent, above the Federal Reserve's 2 percent target, making rate cuts unlikely in the near term. In a separate analysis, he challenged the significance of the petrodollar to global reserve currency status. Together, these reports track key trends in inflation and energy markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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