U.S. Gasoline Prices Fall Below $4 for First Time in About Four Months

The U.S. national average price of gasoline has fallen below $4 per gallon. A combination of lower international oil prices and a seasonal decline in demand pushed it below the $4 mark for the first time in about four months.

AP Yonhap News

According to the American Automobile Association (AAA), the U.S. national average price of gasoline stood at $3.9788 per gallon as of Nov. 10 (local time).

That was down about 3 cents from the previous day ($4.0093) and about 39 cents from a month earlier ($4.3669). However, it remains about 30% higher than a year earlier ($3.0707).

The U.S. national average price of gasoline had not fallen below $4 per gallon since July 19, 2026. In the United States, where people heavily rely on private vehicles, $4 per gallon is considered a psychological benchmark for gauging the burden of consumer prices.

The decline reflected a combination of weaker international oil prices and seasonal factors. International oil prices fell as hopes grew for an end to the war between the United States and Iran. This coincided with the transition to winter-grade gasoline, which is relatively cheaper to produce. Gasoline demand also declined as cold weather reduced car travel and road traffic.

Gasoline prices are expected to continue falling for the time being. Patrick De Haan, an analyst at oil price analysis firm GasBuddy, forecast that prices could fall further through the Thanksgiving holiday, provided no geopolitical surprises arise.

This content was produced with the assistance of AI translation services.