Gas Prices Drop Below $4 for First Time Since July

The national average price for a gallon of gasoline fell to $3.9788 on Tuesday, November 10, according to AAA. This marks the first time the average has dropped below the $4 threshold since early July. While the dip offers some relief, the cost to fill a tank remains higher than it was a year ago.

The current average is three cents lower than the price recorded on Monday and 39 cents lower than the figure from one month ago. CBS News reports that gasoline peaked at $4.56 per gallon earlier this year. For a driver purchasing 15 gallons, the monthly drop translates to an approximate savings of $5.85 per fill. However, the current price is still $0.91 per gallon above the level from November 2025, meaning the same 15-gallon purchase costs about $13.65 more than it did last year.

Seasonal factors drive a portion of this decline. Federal regulations require stations to sell summer fuel blends from June 1 through September 15. These blends are formulated to limit evaporation in high heat and cost more to produce. Outside that window, stations switch to winter blends, which are cheaper. AAA attributes a seasonal drop of $0.10 to $0.30 per gallon to this switch and the general decrease in road travel during colder months.

Crude oil prices have also fallen, further reducing gasoline costs. Part of this decline stems from expectations that the United States and Iran may reach an agreement to end their conflict following the midterm elections. On Tuesday morning, Brent crude futures traded at $91.12 per barrel. Brent serves as the global benchmark for international oil pricing.

Patrick De Haan, a gasoline analyst at GasBuddy, expects prices to continue falling as the holiday season approaches. He anticipates the downward trend will persist as Thanksgiving nears.

Regional differences remain substantial. California recorded the highest average at $5.71 per gallon, down from $6.31 last month and $4.72 a year ago. Hawaii followed at $5.63, with Nevada at $5.04. Washington State averaged $4.98, Oregon $4.62, and Alaska $4.58. Although these six states saw month-over-month decreases, all remain above the national average and their respective levels from November 2025.