U.S. Gas Prices Fall Below $4 for First Time Since July

Drivers are getting some relief at the pump: the national average price of a gallon of regular gasoline fell below $4 on Tuesday for the first time since July.

The average stood at $3.9788 on Tuesday, according to AAA, down from $4.0093 on Monday and $4.1493 a week ago. A month ago, drivers were paying an average of $4.3669 a gallon.

The drop below $4 marks the first time in nearly four months that the national average has been under that mark. Prices remain higher than a year ago, when the national average was $3.0707 a gallon.

The figures are national averages, and prices vary widely by state and by station, so not every pump is below $4. The highest recorded national average for regular unleaded was $5.0165, set in June 2022.

Analysts expect prices at the pump to keep easing into the Thanksgiving holiday season.