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Energy — Economy

US Drivers Get Relief As Gas Prices Fall Below $4

The seasonal switch from summer-blend to cheaper winter-blend fuel has contributed to the decline

,   and  TIPP Staff
2 min read
Photo by Kyle Bushnell / Unsplash

The average price of gasoline in the United States has fallen below $4 per gallon for the first time since July, offering motorists some relief ahead of the Thanksgiving holiday season.

According to AAA data cited by CBS News, a gallon of regular gasoline averaged $3.98 on November 10, down from $4.56 earlier this year. Prices have declined by 39 cents over the past month.

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The seasonal switch from summer-blend to cheaper winter-blend fuel has contributed to the decline. Lower demand during colder months has also helped bring prices down. AAA estimates that seasonal demand typically reduces fuel costs by 10 to 30 cents per gallon.

Global oil prices have also eased amid hopes of a possible US-Iran agreement to end the war. Brent crude futures traded at $91.12 per barrel on Tuesday.

GasBuddy petroleum expert Patrick De Haan expects prices to decline further through Thanksgiving.

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tippinsightsTIPP Staff

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