US Gas Prices May Drop Below $4 Amid Crude Oil Decline
US gasoline prices could fall below $4 per gallon soon, following an 8.3% drop in Brent crude oil to below $100 a barrel. The national average gasoline price was $4.12 per gallon on November 3, about 39% higher than before military actions against Iran began on February 28. The decline in crude prices is linked to hopes for reduced tensions in the Middle East and fewer disruptions to oil shipments through the Strait of Hormuz. Analysts suggest that if the current trend continues, consumers may see relief at petrol stations in the coming days. Diesel prices, however, remain a concern, averaging $6.29 per gallon, just below record highs, impacting transportation costs across supply chains.
Published 2 days ago • 05 Nov 2026, 12:11 PM IST