U.S. gasoline slips below $4 a gallon for first time since April
GasBuddy said prices fell 9.3 cents in a week, and analysts said the deal could keep pump prices easing if Strait of Hormuz traffic resumes.
- The national average for gasoline dropped below $4 per gallon late Sunday for the first time since mid-April, according to GasBuddy analyst Patrick Haan, with prices falling in 47 states over the past week.
- President Trump declared a US-Iran peace deal late Sunday, sending WTI and Brent crude futures tumbling as traders anticipated a potential reopening of the Strait of Hormuz and relief from Gulf energy constraints.
- GasBuddy data shows the national average gasoline price fell 9.3 cents over the last week to $3.99 per gallon, compiled from more than 12 million individual price reports across over 150,000 gas stations.
- Haan projects gasoline prices could tumble toward $3.75 by mid-summer, with 26 states already tracking averages below $4 per gallon and more likely to follow if crude selloffs hold.
- Normalization of crude energy flows will likely take months or longer following the Gulf energy shock and emergency SPR draws, while hurricane season poses a major wildcard for supply stability through summer.
38 Articles
38 Articles
The Advocate-Messenger
US gas prices drop below $4, signaling potential relief
FRANKFORT – The average price of gasoline nationwide fell 9.3 cents over the last week and stands at $3.99 per gallon, according to GasBuddy® data compiled across the U.S. In Kentucky, the statewide average for regular gas stood at $3.63 per gallon, as of mid-day on Wednesday. “Average gasoline prices fell in 47 states over the last week, with the national average dropping below $4 per gallon late Sunday for the first time since mid-April,” said…
Beatrice Daily Sun
Gas dips below $4 for the first time in weeks
NEW YORK — U.S. average retail gasoline prices dipped below $4 a gallon for the first time since mid-April, as optimism grew that a preliminary deal between the U.S. and Iran would lead to the reopening of the Strait of…
Gas prices in West Michigan could stay below $4 a gallon for the rest of the summer
Oil prices fell to their lowest levels in nearly three months after the U.S. announced an agreement with Iran to end the war over the weekend, and drivers in West Michigan could soon feel the impact at the pump. "If the strait remains open, if this deal remains in place and is executed on gas prices may remain below the $4 a gallon mark for the rest of the summer across West Michigan," GasBuddy analyst Patrick De Haan said. While prices may come…
US Gasoline Prices Below $4 a Gallon for First Time Since April
The national average retail price for gasoline in the United States fell below $4 a gallon on Sunday for the first time since mid-April, as hopes for a possible end to a months-long conflict between Washington and Tehran improve market sentiment. GasBuddy data showed the average at $3.997 a gallon on Sunday, up 90.8 cents from a year earlier. The American Automobile Association reported a national average of $4.065 on Monday. President Donald Tr…
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