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Average US gas price drops below $4

The national average price for a gallon of gasoline has fallen below $4. Recent declines follow an interim deal between the US and Iran. Prices vary by region, with California and Oklahoma showing significant extremes.

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What changed

The national average is now reported at $3.93, marking a 14 cent drop from the previous Monday.

Live updates

  1. US National Average Gas Price Dips Below $4

    The national average price for a gallon of gasoline has fallen below $4. Recent declines follow an interim deal between the US and Iran. Prices vary by region, with California and Oklahoma showing significant extremes.

    What's confirmed:

    • The national average price for a gallon of gasoline is $3.93.
    • The national average gas price has fallen below $4 per gallon.
    • The price of gas in California is $5.74.
    • The price of gas in the Oklahoma area is approximately $3.34.

    Still unconfirmed:

    • The New York state average is $4.23.
    • The Strategic Petroleum Reserve reached its lowest level since 1983 on June 12 with 340.3 mbbl.
    • The national average gas price was $3.22 one year ago.
    confidence 90%

  2. US Gas Prices Dip Below $4 Following Strait of Hormuz Agreement

    The national average gas price fell below $4 after the US and Iran agreed to reopen the Strait of Hormuz. Trump has directed the DOJ to investigate oil companies for price gouging. The president stated gas prices should be $2.25.

    What's confirmed:

    • The agreement to reopen the Strait of Hormuz took effect immediately.
    • The national average price for a gallon of gas fell below $4 on Thursday.

    Still unconfirmed:

    • Chevron CFO Eimear Bonner stated there is a lag between crude price declines and relief at the pump.
    confidence 90%

  3. US Gasoline Prices Drop Below $4 for First Time Since March

    The national average price for a gallon of gas fell below $4 on Thursday. This decline follows a deal between the United States and Iran to reopen the Strait of Hormuz. Prices remain 25% higher than last year.

    What's confirmed:

    • The average U.S. price for a gallon of gas fell below $4 on Thursday.
    • Gas prices have not been at this level since March.
    • The United States and Iran signed an agreement to reopen the Strait of Hormuz.

    Still unconfirmed:

    • Current gas prices are 25% higher than last year.
    confidence 100%

  4. US National Gas Average Dips Below $4 Per Gallon

    The national average price for gasoline fell to $3.999 on Thursday. This is the first time prices have dropped below $4 since March. The decline follows an agreement between President Donald Trump and Iran.

    What's confirmed:

    • The national average gas price hit $3.999 on Thursday.
    • US gas prices fell below $4 for the first time since March.
    • The price drop follows an agreement between President Donald Trump and Iran.

    Still unconfirmed:

    • Gas prices in Indiana are $3.3990.
    • Gas prices in California are $5.6420.
    confidence 95%

  5. US Average Gas Prices Fall Below $4 per Gallon

    National gasoline averages dropped below $4 on Thursday for the first time since March. This decline follows a signed agreement between President Donald Trump and Iran. Prices in Illinois saw the largest national decrease, though they remain above $4.

    What's confirmed:

    • The national average price for a gallon of gas fell below $4 on Thursday.
    • This is the first time since March that national averages have dropped below $4.

    Still unconfirmed:

    • Grocery costs may take a while to decrease following the drop in gas prices.
    • The agreement with Iran requires Tehran to dilute its stockpile of highly enriched uranium.
    • Illinois experienced the largest drop in gas prices nationwide.
    confidence 95%

  6. Average US Gas Prices Drop Below $4 per Gallon

    The average cost of U.S. gasoline fell below $4 a gallon on Thursday. This decline follows a preliminary agreement between the U.S. and Iran to reopen the Strait of Hormuz and cease hostilities for 60 days. Prices remain 25% higher than they were last year.

    What's confirmed:

    • The average price of U.S. gasoline fell below $4 a gallon on Thursday.
    • The price drop follows a deal between the United States and Iran to reopen the Strait of Hormuz and stop hostilities for 60 days.
    • Current gas prices are 25% higher than last year.
    • This is the first time prices have fallen below $4 since March.

    Still unconfirmed:

    • The average cost of a gallon of gas was $3.99 on Thursday morning, down from a May peak of over $4.50.
    • Economy experts do not expect prices to reach pre-war levels before the end of summer.
    • Prices dropped below the $4 benchmark for the first time since March 30.
    confidence 95%