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● LIVE Updated 1h ago · 11 sources tracked

Gas prices could fall, but Exxon CEO warns of a 2027 catch

The national average for regular gasoline fell 12 cents in the past week, pushing the average below $4 a gallon in 26 states and to $3.27 in at least one state, while Whatcom County, Washington, still averages nearly $5. AAA confirms the one-week decline. Meanwhile, ExxonMobil's CEO warned that prices could rise again by 2027 if investment in new supply does not keep pace with demand.

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⚡ Key Developments & Real-Time Context
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  • ✓ The national average gasoline price fell 12 cents in one week, according to AAA.
  • ✓ As of November 7, the average price was under $4 per gallon in 26 states.
  • ✓ At least one state recorded an average of $3.27 per gallon as of November 8.
  • ✓ Whatcom County, Washington, averaged nearly $5 per gallon despite the national decline.
🛡️ Source Corroboration: 11 independent reporting domains (88% confidence) ⏱ Read time: ~2 min

What changed

AAA reported a 12-cent weekly decline in the national average, and Exxon's CEO publicly tied future price increases to a 2027 supply gap.

Live updates

  1. U.S. gasoline prices drop sharply; Exxon CEO flags 2027 supply risk

    The national average for regular gasoline fell 12 cents in the past week, pushing the average below $4 a gallon in 26 states and to $3.27 in at least one state, while Whatcom County, Washington, still averages nearly $5. AAA confirms the one-week decline. Meanwhile, ExxonMobil's CEO warned that prices could rise again by 2027 if investment in new supply does not keep pace with demand.

    Why it matters

    Pump prices have been sliding through early November, giving drivers relief heading into the weekend. The drop reflects seasonal demand softness and ample refining output. However, the Exxon warning highlights a structural tightness: years of underinvestment in upstream capacity could translate into higher prices once current surplus evaporates.

    What is confirmed

    • The national average gasoline price fell 12 cents in one week, according to AAA.
    • As of November 7, the average price was under $4 per gallon in 26 states.
    • At least one state recorded an average of $3.27 per gallon as of November 8.
    • Whatcom County, Washington, averaged nearly $5 per gallon despite the national decline.
    • ExxonMobil's CEO warned that gasoline prices could rise by 2027 without sufficient new supply investment.

    What to watch next

    • AAA weekly price updates for the week of November 10-16
    • EIA petroleum status reports on gasoline inventories and refinery utilization
    • ExxonMobil or industry commentary on 2025-2027 capital expenditure plans
    Sources used for this update (13)
    1. en.wikipedia.org — Gas - Wikipedia
    2. AL.com — Gas prices for 11/06/26: National average down again, what will you pay heading into the weekend?
    3. RVBusiness — AAA: National Fuel Average Falls 12 Cents in One Week
    4. Bay to Bay News — Price of gas continues to decline slightly in Delaware
    5. TheStreet — Gas prices could fall, but Exxon CEO warns of a 2027 catch
    6. Audacy — Gas prices falling in WNY
    7. AL.com — Gas prices for 11/08/26: Average getting closer to $4 per gallon, one state at $3.27
    8. Bellingham Herald — Gas prices drop again, as Whatcom County averages nearly $5 a gallon
    9. AL.com — Gas prices for 11/07/26: Average now under $4 per gallon in 26 states
    10. Citizen Tribune — National Gas Average Falls 12 cents in a week
    11. www.kansasgasservice.com — Kansas Gas Service
    12. www.atmosenergy.com — Atmos Energy
    confidence 88%
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