Gasoline prices fell to their lowest level since July on Tuesday, with the national average slipping below $4 a gallon for the first time in months.
Data from AAA showed the national average price dropped about 3 cents from Monday to $3.97 a gallon on Tuesday. Prices have fallen about 17 cents over the past week and roughly 39 cents from a month ago.
Gas prices remain volatile and on Tuesday reached their lowest level since July, according to AAA data. (M. Scott Brauer/Bloomberg via Getty Images)
The decline comes as refiners switch to winter blends of gasoline, which typically cost less than summer blends and can be sold as early as mid-September. Winter weather also tends to reduce driving, lowering demand and contributing to a seasonal price drop of 10 to 30 cents per gallon, according to AAA.
Refineries have switched to winter blends of gasoline that tend to be slightly cheaper than summer blends. (Sharon Steinmann/Bloomberg via Getty Images)
Consumers have faced higher prices for much of the year due to the war in Iran, which has disrupted oil flow from the Middle East through the Strait of Hormuz, constraining supplies for refiners. Prices peaked at $4.50 a gallon on May 11, 2026, then fell to a recent low of $3.77 on July 6, per Energy Information Administration data.
The Iran war has disrupted the flow of oil from the Middle East to global markets, pushing prices higher. (Giuseppe Cacace/AFP via Getty Images)
Ongoing Middle East tensions pushed prices higher as summer turned to fall, with the national average reaching $4.47 on Sept. 21, 2026. The Bureau of Labor Statistics reported Tuesday that the October consumer price index showed gasoline prices rose 1% last month, a slower pace than the 9.1% jump in September and 3.9% in August.
