US Gas Prices Below $4 a Gallon for First Time Since July as Oil Slides

US gas prices fell below $4 a gallon on Tuesday, giving American drivers a break at the pump at last. The national average price for regular gasoline dropped to $3.9788, according to AAA, the first sub-$4 reading since July 20 — a gap of 114 days.

Key Points

• AAA put the national average for regular gasoline at $3.9788 on Tuesday, November 10, 2026, the first reading below $4 since July 20 — a gap of 114 days.
• The average fell from $4.0093 a day earlier, $4.1493 a week earlier and $4.3669 a month earlier, but it remains about 91 cents above a year ago, when it stood at $3.07.
• GasBuddy's separate national average fell to $3.96 on Monday, November 9, its first below-$4 reading since early August, and its analyst Patrick De Haan expects about $3.75 by Thanksgiving, with a possible floor of $3.60 to $3.65.
• Brent crude briefly fell below $90 a barrel on Tuesday morning for the first time since August, after oil futures dropped 13 percent last week, the steepest weekly decline since April 2020.
• Diesel stayed stubbornly high at about $6.16 a gallon, against $3.74 a year earlier, even as regular gasoline fell.

What Happened

The milestone arrived quietly, in AAA's daily national reading. On Monday, the average stood at $4.0093, still just above the $4 line. By Tuesday it had fallen to $3.9788, a drop of just over three cents in a day but enough to cross a threshold that had held since the summer.

GasBuddy's figures told the same story a day earlier. Its national average fell to $3.96 on Monday, its first reading below $4 since early August, and De Haan expects about $3.75 by Thanksgiving, with a possible floor of $3.60 to $3.65 a gallon.

The fall followed a sharp retreat in the oil market. Brent crude briefly dropped below $90 a barrel on Tuesday morning, the first time it had traded under that level since August. Oil futures fell 13 percent last week, their steepest weekly decline since April 2020.

Background: A Year of Pain at the Pump

The drop below $4 is striking because of how high prices had climbed. When the US-Iran war began on February 28, 2026, the national average stood at $2.98 a gallon. By the time Americans voted in the midterm elections on November 3, it had reached $4.17, the highest price ever recorded on an Election Day. Diesel had climbed even further, touching a record $6.53 a gallon in late September.

October brought the sharpest squeeze, as Brent crude rallied almost 14 percent in the month to a six-month high — but the rally broke last week.

Diesel, however, has not followed gasoline down. At about $6.16 a gallon, it remains more than $2.40 above its level of a year ago, when it stood at $3.74. Diesel powers the trucks, trains and farm machinery that move goods across the country, so its stubborn price keeps feeding into the cost of food and other essentials.

Gas Prices Below $4: What the Drop Means for Drivers

For a typical driver, the arithmetic is straightforward. A 15-gallon fill-up at the current national average costs about $59.68. A month ago, at $4.3669 a gallon, the same fill-up cost about $65.50, a saving of roughly $5.80 every time the tank is filled — more than $20 a month for a household filling up once a week.

The comparison with a year ago is less cheerful. At $3.07 a gallon last November, the same 15-gallon fill-up cost about $46.05, so drivers are still paying roughly $13.60 more per tank than they were twelve months ago. The fall below $4 is real relief, but it is relief from a very high peak rather than a return to pre-war prices.

Reactions

GasBuddy's Patrick De Haan was the most specific of the forecasters, putting a number and a date on the decline: about $3.75 a gallon by Thanksgiving, with a possible floor of $3.60 to $3.65. His call rests on cheaper crude and the seasonal switch to winter blends, and it assumes no new disruption to supplies.

The oil market's move was driven by the president's signal that he is not planning to strike Iran anytime soon. That message removed the immediate fear of an escalation that could threaten the Strait of Hormuz, the waterway through which a large share of the world's traded oil passes.

Why It Matters

Gasoline is the most visible price in the American economy. It is posted on signs at every street corner, it changes daily, and almost every household pays it. That is why the $4 line matters beyond the arithmetic: it is a psychological threshold, and crossing it downwards is the first clear signal in months that the cost-of-living squeeze is easing.

The timing matters as well. The midterm elections were fought on the cost of living, and fuel prices were at the centre of that argument. But the relief is partial: until diesel follows gasoline down, the benefit will be felt mainly by drivers rather than by shoppers, because trucks run on diesel at $6.16 a gallon.

What Happens Next

The next readings to watch are AAA's daily national average and GasBuddy's figures, which will show whether the fall below $4 holds or proves to be a brief dip. If Brent crude stays below $90 a barrel, pump prices should keep drifting lower through November.

The bigger question is the diplomatic one. The fall in oil prices rests on the belief that the United States will not strike Iran again soon and that talks can produce a settlement. Any sign that diplomacy is faltering could send crude back up as fast as it fell, and pump prices would follow within days.

Frequently Asked Questions

What is the average price of gasoline in the US now?

AAA put the national average at $3.9788 a gallon on Tuesday, November 10, 2026. GasBuddy's separate average stood at $3.96 on Monday, November 9.

When was the last time gas cost less than $4 a gallon?

July 20, 2026. The November 10 reading was the first below $4 in 114 days.

How much have gas prices fallen?

Down about 17 cents in a week and about 39 cents in a month, from $4.3669. It is still about 91 cents above the $3.07 average of a year ago.

How low could prices go?

GasBuddy's Patrick De Haan expects the national average to reach about $3.75 by Thanksgiving, with a possible floor of $3.60 to $3.65 a gallon if current conditions hold.

Why are gas prices falling?

Oil prices retreated after President Donald Trump signalled he is not planning to strike Iran anytime soon, easing fears of a supply disruption. Brent crude briefly fell below $90 a barrel on Tuesday, and stations are switching to cheaper winter-blend gasoline as demand eases.

Read more: Election Day gas prices set for record $4.17 as American voters head to polls and US oil profits hit $130 billion in Iran war as drivers pay $147 billion more.