Gas prices plunged below $4 a gallon nationwide for the first time in months. The drop came a week after the midterm elections that handed Democrats major congressional wins.
Gas Prices Drop Below $4 Nationwide
AAA reported the national regular gasoline average at $3.98 per gallon on Tuesday morning, while GasBuddy’s daily update placed it just under $3.97.
The average fell 3 cents from Monday to Tuesday and about 17 cents over the past week, compared with $4.37 a month earlier.
Diesel remained above $6 per gallon, standing at $6.16 nationwide, though it slipped 1‑2 cents per day and is expected to dip below $6 before Thanksgiving.
Gasoline is falling 1‑3 cents daily, roughly matching the overall national pace, De Haan said.
De Haan forecast Ohio and Indiana will have hundreds of stations selling gasoline under $3 per gallon around Thanksgiving, while Michigan and Wisconsin may see only a few.
He attributed the decline to the switch to winter‑blend gasoline after Sept. 15, fading demand after the summer driving season, and reduced hurricane‑related risk premiums as refinery maintenance wrapped up.
Historical data show prices dropped in 13 of the 18 years from 2008 to 2025, averaging 25‑55 cents lower; this year’s decline is about 35 cents over that period.
Since the Iran war began in February, fuel prices have risen, with diesel hitting an all‑time high in September, according to AAA.
President Donald Trump has linked higher fuel costs to the war, saying a return to full‑scale strikes is unlikely and that U.S. forces are “locked and loaded.”
Trump also predicted lower gas prices after the midterms, claiming oil prices would tumble downward once the election passed.
On Monday, Trump told reporters at the White House a “good chance” the Iran conflict would end soon, noting Iran’s regime is speaking “very politely” with his administration.
The Associated Press contributed to this report.
