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Average U.S. Gasoline Price Falls Below $4 for First Time in Months
AAA says the average has fallen to $3.99 as crude prices drop 15% this month and supply fears ease after a U.S.-Iran agreement.
- 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.
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U.S. gas prices fall below $4 for 1st time since March
Drivers are finally starting to see some relief at the pump after months of high-dollar fill-ups. But even with prices falling below $4 for the first time since March, gas is still 25% more expensive than it was last year. The post U.S. gas prices fall below $4 for 1st time since March appeared first on Charleston City Paper.
U.S. gas prices dip below $4 for 1st time since March but remain 25% higher than last year
U.S. gas prices have fallen to just below $4 a gallon on average, bringing some relief to drivers who have seen soaring costs amid Washington’s war with Iran. But filling up is still more expensive than it was before the…
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Coverage Details
Total News Sources230
Leaning Left35Leaning Right22Center114Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 20%
C 67%
13%
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