US national average regular gasoline prices settled at $4.27 per gallon for the week of October 26, 2026, according to EIA data, reflecting a modest 1-cent decline from the prior week amid the seasonal shift toward winter-blend formulations. Persistent geopolitical tensions in the Middle East, including disruptions through the Strait of Hormuz and refinery outages, have kept Brent crude near $105–$114 per barrel, elevating feedstock costs that typically account for over half of pump prices. Tight distillate inventories, elevated refining margins, and strong utilization rates near 93% have limited downside despite softer demand signals and select state tax relief measures. Traders are monitoring upcoming EIA inventory reports and any shifts in global supply flows for potential volatility into early November.