US gasoline prices rise then fall below $4
US gasoline prices surged to $4.20 a gallon and then fell to $3.9788, below $4 for the first time since July. The drop followed Brent crude falling below $90 as hopes grew for an end to the US-Iran conflict.
IllustrationThe story so far
In late October 2026, the national average price of regular gasoline stood at $4.20 a gallon, nearly 40% above the same period last year, while diesel rose about 70% over the past year to $6.32. A Brown University study found Americans had paid more than $150 billion more for gas and diesel since the start of America's war against Iran than in the same period last year.
By November 10, 2026, the national average price of regular gasoline fell to $3.9788, below $4 for the first time since July, according to AAA. Energy prices rose 0.7% in October after a 5.2% surge in September, while the BLS gasoline index rose 1% after 9.1% in September. The drop followed Brent crude falling below $90 as hopes grew for an end to the US-Iran conflict, though Fed Governor Christopher Waller warned energy shocks may have persistent inflation effects.
Latest updates
3 updates · newest first- 10 NovNew development
US gas prices fall below $4 a gallon for first time since July
The national average price of regular gasoline fell to $3.9788, below $4 for the first time since July, according to AAA. Energy prices rose 0.7% in October after a 5.2% surge in September, while the BLS gasoline index rose 1% after 9.1% in September. The drop followed Brent crude falling below $90 as hopes grew for an end to the US-Iran conflict, though Fed Governor Christopher Waller warned energy shocks may have persistent inflation effects.
CNBC ↗
NPR ↗
- 3 NovNew development
Americans paid $150 billion more for gas and diesel this year
A Brown University study found Americans have paid more than $150 billion for gas and diesel since the start of America's war against Iran than in the same period last year. Global prices rose after supply disruptions, with Iran holding one of the world's top oil reserves. Americans are paying upwards of $6 a gallon even though US oil companies have not had their own supply chains disrupted the way Middle East crude has.
CleanTechnica ↗
- 31 OctNew development
Trump promised lower energy costs, but fuel prices soared
Trump said in September 2024 that his plan would cut energy prices in half or more within 12 months and put gasoline below $2 a gallon. Gas prices stood at a national average of $4.20 a gallon, nearly 40% above the same period last year, while diesel rose about 70% over the past year to $6.32. Gas and diesel prices are forecast to be the highest ever on an election day after the Iran attack, Houthi attacks and Ukrainian refinery strikes.