Average U.S. Gasoline Price Falls Below $4 for First Time in Months
The U.S. national average for regular gasoline has fallen below $4 for the first time since March, decreasing by 49 cents a gallon over the last month. While a glut in oil flow has contributed to lower prices, some analysts warn that gasoline and oil inventories could still run short. This price drop occurs as major energy firms report massive gains; Exxon profits doubled and Chevron profits quadrupled compared to the same quarter last year. President Trump has blamed oil companies for the slow pace of these price declines.
What changed
New data reveals massive profit increases for Exxon and Chevron alongside reports of an oil glut.
Live updates
-
U.S. Gasoline Prices Drop Below $4 Amid Oil Glut and High Corporate Profits
The U.S. national average for regular gasoline has fallen below $4 for the first time since March, decreasing by 49 cents a gallon over the last month. While a glut in oil flow has contributed to lower prices, some analysts warn that gasoline and oil inventories could still run short. This price drop occurs as major energy firms report massive gains; Exxon profits doubled and Chevron profits quadrupled compared to the same quarter last year. President Trump has blamed oil companies for the slow pace of these price declines.
Why it matters
The price shifts happen during a period of sluggish 1.5% U.S. economic growth from April through June. High inflation persists despite increased consumer spending. Global supply chains remain unstable due to conflict in the Middle East.
Still unconfirmed
- Exxon's profits doubled from the same quarter a year ago.
- Chevron's profits quadrupled from the same quarter a year ago.
- The U.S. economy expanded at a 1.5% pace from April through June.
- A glut has developed in the flow of oil.
- Oil and gasoline inventories could run short.
What to watch next
- Reports on U.S. gasoline inventory levels.
- Further quarterly profit disclosures from major oil companies.
- Updates on Middle East conflict impacting global supply chains.
confidence 80%Sources used for this update (7)
- economictimes.indiatimes.com — Dow Jones| Nasdaq | US Stock Market Today | Live: US market ends sharply higher as Microsoft rally fuels strong gain
- www.kmvt.com — US economy grows at a sluggish 1.5% in second-quarter with inflation remaining stubbornly high
- www.forbes.com — Is The U.S. ‘Gas Tank’ Running On Empty? Are Reported Shortages Real?
- seekingalpha.com — Micron Technology slips 6% after sharp rebound fades
- global.chinadaily.com.cn — Australia mulls building oil refinery to boost supply
- www.airwaysmag.com — IAG Cuts 2026 Capacity Outlook as Fuel Bill Forecast Eases
- www.inquirer.com — Big oil companies reap billions off the Iran war
-
U.S. Gasoline Prices Drop Below $4
The national average for regular gasoline has fallen below $4 for the first time since March. Prices decreased by an average of 49 cents a gallon over the last month. President Trump has attributed the slow pace of these declines to oil companies.
confidence 100%Sources used for this update (4)
- Sensex today | Stock Market Highlights: Stock markets snap five-day fall; Sensex jumps 776 points on sharp drop in crude oil prices
- Trump says U.S. will "go back to doing what we were doing" if Iran talks stall
- Dow Jones| Nasdaq | US Stock Market Today | Live: Nasdaq falls over 1% as AI concerns mount ahead of Big Tech earnings
- Humidity explained
-
U.S. Gas Prices Drop as Iran Ceasefire Stabilizes Markets
The national average for regular gasoline fell below $4 for the first time since March. Prices decreased an average of 49 cents a gallon over the last month. President Trump has blamed oil companies for the slow pace of these declines.
What's confirmed:
- U.S. gasoline prices decreased an average of 49 cents a gallon in the last month.
- President Trump is frustrated that gasoline prices are not mirroring the decline in oil prices.
Still unconfirmed:
- Average gas prices in Fresno dropped more than 20 cents over the past week.
- Petrol prices in New Zealand dipped under $3 for the first time in more than three months.
- A ceasefire between the US and Iran is holding.
confidence 90%Sources used for this update (4)
- President Trump is frustrated gasoline prices don’t mirror oil’s decline. Expert...
- Fresno gas prices fall 20 cents in a week, over 80 cents in a month according to...
- Petrol price drops below $3 a litre in New Zealand as ceasefire steadies oil markets
- Trump is frustrated gasoline prices don’t mirror oil’s decline. Experts say it’s...
-
U.S. Average Gasoline Price Drops Below $4 per Gallon
The national average for regular gasoline fell below $4 on Thursday for the first time since March. Prices have decreased in 47 states as oil markets react to geopolitical shifts. Costs remain higher than the previous year.
What's confirmed:
- The national average for regular gasoline fell below $4 a gallon on Thursday.
- AAA reported the national average hit $3.999 on Thursday.
- Prices have fallen for nearly four consecutive weeks.
Still unconfirmed:
- The national average gas price is $3.93 according to AAA.
- The national average price of gasoline stands at $3.85 per gallon according to GasBuddy.
- Gas prices in New York State average $4.23.
- Gas prices in Orleans average $4.40.
- U.S. gasoline prices decreased an average of 49 cents a gallon in the last month.
confidence 90%Sources used for this update (9)
- AAA Fuel Prices
- America In Focus: US gas prices dip below $4 and more evidence Americans keep spending
- US gas prices dip below $4 for 1st time since March but remain 25% ...
- June Fuel Update: Prices Fall Below $4 | Automotive Fleet
- America In Focus: US gas prices dip below $4 and more evidence ... - WTOP
- Gas price falls below $4 nationally, but $4.23 in NYS and $4.40 in Orleans
- Gas Prices Archives - GasBuddy
- Dow Jones| Nasdaq | US Stock Market Today | Live: US market trades choppy as megacap weakness offsets Micron boost
- Trump is frustrated gasoline prices don't mirror oil's decline. Experts say it’s...
-
U.S. National Average Gasoline Price Drops to $3.999
The national average for regular gasoline fell below $4 per gallon on Thursday for the first time since March 30. This decline follows a preliminary agreement between the United States and Iran to end hostilities and reopen the Strait of Hormuz. Prices have dropped for nearly four consecutive weeks.
What's confirmed:
- The national average for regular gasoline fell below $4 a gallon on Thursday.
- This is the first time prices have dipped below $4 since March.
- The United States and Iran signed an agreement to reopen the Strait of Hormuz.
- The national average price is currently $3.999.
Still unconfirmed:
- President Donald Trump signed an agreement requiring Tehran to dilute its stockpile of highly enriched uranium.
- Millions of Americans will travel for Independence Day in record numbers starting next weekend.
confidence 95%Sources used for this update (3)
-
U.S. Gas Prices Drop Below $4 Following U.S.-Iran Agreement
The national average for regular gasoline has fallen below $4 per gallon. This price drop follows an agreement between the United States and Iran to reopen the Strait of Hormuz. Experts suggest these savings may not reach grocery costs immediately.
What's confirmed:
- The average price of gasoline in the United States fell below $4 per gallon.
- A deal between the United States and Iran to reopen the Strait of Hormuz contributed to lower energy costs.
Still unconfirmed:
- Gasoline prices had not been this low since April.
- Grocery costs will take a while to decrease.
confidence 80%Sources used for this update (3)
-
U.S. Gas Prices Drop Below $4 Following Iran Agreement
The national average for regular gasoline fell below $4 per gallon on Thursday. This is the first time prices have reached this level since March. Some regions still report prices near $7.
What's confirmed:
- The national average for gasoline fell below $4 per gallon on Thursday.
- This is the first time average prices have dropped below $4 since March.
Still unconfirmed:
- Gas prices fell 9.3 cents over the past week according to GasBuddy.com.
- Experts warn prices may stay elevated for several weeks.
- Prices in some parts of the U.S. remain near $7.
confidence 90%Sources used for this update (4)
-
U.S. Average Gasoline Prices Drop Below $4 Per Gallon
The national average price for a gallon of regular gasoline has fallen to $3.99. This marks the first time prices have dipped below the $4 threshold since March 30. The decline follows a peak of over $4.50 in May.
What's confirmed:
- The average cost of a gallon of gas in the U.S. is $3.99.
- U.S. gas prices dropped below $4 per gallon for the first time since March 30.
- Gasoline prices peaked at over $4.50 in May.
Still unconfirmed:
- A tentative deal between the U.S. and Iran to reopen the Strait of Hormuz contributed to easing oil supply fears and lower fuel costs.
- Current gas prices remain 25% higher than last year.
confidence 95%Sources used for this update (16)
- U.S. Average Gasoline Prices Slide Below $4 Per Gallon
- Mapping the Market: Signs of relief at US gasoline pumps, possibly more to come
- Average U.S. Gasoline Price Falls Below $4 for First Time in Months
- Average US gas price drops below $4 - barely
- Gas dips below $4 a gallon after months of pump pain
- A favourable deal for Iran
- The Iran War Is Over. Now When Do Gas Prices Come Down?
- Gas prices fall below $4 for the first time since March
- US gas prices dip below $4 for the first time since March
- Gas prices fall below $4 per gallon as oil supply fears ease after Iran deal
- The US and Iran reached a tentative deal to reopen the Strait of Hormuz. Will gas get cheaper?
- Gas prices drop below $4 a gallon for the first time in months