Average U.S. Gasoline Price Falls Below $4 for First Time in Months
AAA said diesel also remains above $5 a gallon as lower crude prices and a U.S.-Iran agreement eased pump costs.
- On Thursday, the United States national average for regular gasoline fell below $4 for the first time since March 30, with AAA reporting $3.999 per gallon and GasBuddy tracking about $3.98.
- The Strait of Hormuz is set to reopen under a United States and Iran memorandum, addressing the late February closure that choked off about 20% of the world's oil supply and triggered the price surge.
- Independent oil analyst Tom Kloza noted gas prices "go up like a rocket and come down like a feather," explaining the slow decline, while Indiana reports the cheapest average price at $3.40 among 28 states.
- Dan Pickering, founder and chief investment officer at Pickering Energy Partners, cautioned that the new normal "isn't going to be $2.85 gasoline," signaling prices will remain elevated compared to pre-war levels.
- Matt Smith, lead oil analyst at Kpler, warned that restoring tanker traffic will take three or four months, and with inventories at decade lows, experts expect pump prices could surge above $4 again this summer.
106 Articles
106 Articles
Roundup: Arthur’s impact / Gasoline prices / US jobless claims
Storm weakens, exits state: Metro Baton Rouge avoided the worst of Tropical Storm Arthur, with the strongest impacts staying south and east. The system triggered several tornado warnings, including one in New Orleans. Arthur has now weakened into a low, bringing rain and the threat of tornadoes to Mississippi. WAFB has the full story. Easing: In the wake of the U.S. and Iran agreeing to a framework for a peace deal, oil supply concerns have ease…
The gallon of gasoline dropped in the United States from $4 for the first time since March, according to the average published by the American Automobile Association (AAA). However, prices vary markedly between states. California again leads the ranking of the territories where it costs the most to fill the deposit, with the gallon at 5.6420. It is followed, also above $5 per gallon, Washington, with 5,4360 and Alaska, with 50420. On the contrar…
Average LACo Gas Price Drops For 30th Time in 31 Days
The average price of a gallon of self-serve regular gasoline in Los Angeles County dropped Thursday for the 30th time in 31 days, falling 4.1 cents to $5.647, its lowest amount since March 17. The average price has fallen 56.8 cents over the past 31 days, including 3.2 cents Wednesday, according to figures from the AAA and Oil Price Information Service. It dropped six consecutive days, rose two-tenths of a cent May 25 and resumed decreasing May …
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