Market Flux Event
US Average Gasoline Price Falls Below $4 a Gallon for First Time in 114 Days
Read this in the Market Flux appThe national average retail price for regular gasoline slipped to $3.9788 a gallon on November 10, according to AAA data, breaking below $4 for the first time since mid-July and ending a 114-day stretch above that threshold. The price is down sharply from a peak of $4.56 a gallon reached earlier this year, though it remains roughly 30% above pre-war levels and about 19% above the seasonal average.
Prices surged earlier in 2026 after the US and Israel launched military strikes on Iran in late February, disrupting crude and refined product exports through the Strait of Hormuz. Escalating Ukrainian attacks on Russian refineries and reduced Chinese exports added further pressure to global fuel markets, pushing US pump prices to a year-on-year increase of about 53% at their May peak.
The recent decline reflects a combination of factors: the seasonal switch from more expensive summer-blend fuel to cheaper winter-blend fuel after September 15, a typical fall-off in driving demand, and a recovery in US gasoline stockpiles that had been below seasonal levels since late April. Crude oil prices have also fallen on hopes for a faster resolution to the conflict. GasBuddy petroleum analyst Patrick De Haan forecasts prices will continue easing toward $3.75 a gallon by Thanksgiving, though analysts caution that pump prices tend to fall more slowly than they rise and any renewed conflict with Iran could reverse the trend.
© AI-generated summary is provided by Market Flux
Sources
- FirstSquawkUS GASOLINE DROPS BELOW $4/GALLON FOR FIRST TIME SINCE JULY
- LiveSquawkUS Gasoline Drops Below $4/Gallon For First Time Since July #OOTT
- JavierBlasBREAKING: US average retail gasoline price drops below $4 a gallon (to $3.9788) for the first time in 114 days. Despite the fall in prices, the average cost is still up ~30% from pre-war levels (but that's a lot better than a peak of ~53% increase set in May).
- BusinessUS gasoline dropped below $4 a gallon for the first time since July, offering consumers some relief at the pump, although prices remain significantly elevated on a seasonal basis
- NaeemAslam23🚨 🇺🇸 US GAS PRICES BREAK BELOW $4 AS IRAN WAR FEARS EASE GasBuddy puts average US gasoline near $3.97 a gallon, the first move below $4 in four months. Brent is near $91 and WTI near $85 as hopes of calmer US-Iran relations grow. Drivers gain relief, but oil markets are removing the fear premium before any lasting peace deal. Shipping risks around Hormuz remain, exposing prices to fresh shocks. Cheaper crude hurts oil producers but helps airlines and fuel-heavy firms. Watch Brent near $90: further declines cut business costs, while renewed tanker attacks would reverse the relief.
- StaunovoUS gasoline dropped below $4 a gallon for the first time since July, offering consumers some relief at the pump, although prices remain significantly elevated on a seasonal basis #oott