Regional gas prices spiked in May compared to the same time last year, according to the May 2026 Economic Index report by the Economics department at Cal Poly Humboldt.
According to AAA’s recent figures, updated daily, Humboldt County has some of the highest gas prices in the nation. Higher crude oil prices increase the cost of gasoline and diesel, raising the cost to transport, in addition to the price at the pump. As a result, gas stations farther from refineries, such as those in Eureka, face higher transportation costs, leading to larger price increases, says Erick Eschker, director of the Humboldt Economic Index and professor of Economics.
“Eureka has always had among the highest gasoline prices in the nation, but the gap between our price and the rest of California has been widening over the last three years,” Eschker says.
The average gas price in Eureka, California, is $6.41 per gallon—89 cents higher than the same time last year. It’s also higher than California’s state average of $6 per gallon and Northern California’s average at $6.03 per gallon. Eureka's average gasoline prices over the past two months have been among the highest on record, ranking fourth and fifth all-time since data collection began in 1998.
National and Local Housing Trends
The local Home Sales Index rose 4.6% in April but is down 14.1%compared to last year. Humboldt’s median home price rose to $444,000 in April, up 1.8 % from a year ago.
Employment and Leading Indicators
The local labor market remains relatively stable. Humboldt County’s seasonally adjusted unemployment rate rose to 4.7%, the same as one year ago but higher than the national rate of 4.3%
Other key sector and indicator highlights include:
Composite: The overall average fell 1.4%
Retail Sales: Dropped 4.6%, mirroring a recent national decline in consumer confidence.
Electricity Consumption: Saw an increase of 5.8%.
Leading Indicators: Signals are mixed. While unemployment claims are down and help-wanted ads are up—positive predictors for growth. However, building permits are down, signaling a possible slowdown in future economic activity.
Now in its 30th year, the Humboldt Economic Index is produced by students and faculty in the Economics department at Cal Poly Humboldt and has tracked the regional economy since 1996. The Index is funded by local banks and credit unions. It uses information from six sectors and adjusts for trends to provide a clear picture of changes in the economy. For the full report and historical data, visit humboldt.edu/economic-index.
About the Economics Major at Cal Poly Humboldt
With a focus on environmental economics and regional economic development, the Department of Economics prepares students to tackle real-world challenges like sustainability and local economic growth. Hands-on research opportunities include participation in the Economic Index report, internships, and community-based projects that immerse them in the local economy. Students majoring in Economics can customize their degree by choosing an emphasis and adding a minor in Business, Environmental Policy, Applied Statistics, and more. For more information about the Economics major, email econ@humboldt.edu.