National Gasoline Price Average Plunges back below $4/gallon

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The nation’s average price of gasoline has fallen 9.4 cents over the last week and stands at $3.97 per gallon, according to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is up 3.9 cents from a month ago and is 87.4 cents per gallon higher than a year ago. The national average price of diesel fell 11.7 cents in the last week and stands at $5.50 per gallon.

“Average gasoline prices declined in 48 states over the last week, while diesel prices fell in 46 states, offering a welcome break at pumps, with the national average price of gasoline dipping below the $4 per gallon mark over the weekend,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

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Oil markets experienced another volatile week, but with a notable shift lower overall as easing geopolitical tensions—at least temporarily—helped unwind some of the risk premium that had driven prices sharply higher in prior weeks. After last week’s rebound amid doubts surrounding the ceasefire, markets appeared to gain slightly more confidence late in the week following statements from both the U.S. and Iran suggesting the Strait of Hormuz would remain open, easing immediate concerns over supply disruptions.

That confidence, however, is already being tested. New talks—and the risk they may break down—are again raising the potential for oil prices to climb in the days ahead. President Trump has warned Iran that further military action could occur if Tehran fails to reach an agreement, reintroducing uncertainty and pushing prices sharply higher to start the week.

The threat of escalations was pushing prices higher again in early Monday trade, underscoring the market’s sensitivity to headlines. WTI crude oil was up $4.98 per barrel to $88.83, but still well below last Monday’s $104.07 level, while Brent crude rose $4.65 to $95.03 per barrel, also down from $102.01 a week earlier. The rebound highlights how quickly sentiment can shift, even within a broader downward trend.

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As Giovanni Staunovo, UBS commodities analyst, noted via e-mail, oil prices “continue to react primarily to escalation or de-escalation headlines. Intensifying strikes have pushed prices higher, while de-escalation headlines and hopes for the reopening of the Strait of Hormuz have weighed on them. For now, flows through the Strait remain restricted, with the market watching closely to see whether U.S.-Iran talks take place in Pakistan this week.”

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the SPR fell 1.7 million barrels to 413.3 million barrels.

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The states with the lowest average prices: Oklahoma ($3.35), Kansas ($3.45), and North Dakota ($3.54).

The states with the highest average prices: California ($5.79), Hawaii ($5.64), and Washington ($5.32).

Biggest weekly changes: Texas (-15.9¢), Indiana (-15.7¢), Ohio (-15.4¢), New Mexico (-15.0¢), Iowa (-13.5¢).

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The states with the lowest average diesel prices: Oklahoma ($4.68), Kansas ($4.69), and South Dakota ($4.78).

The states with the highest average diesel prices: California ($7.51), Hawaii ($7.06), and Washington ($6.87).

Biggest weekly changes: Arizona (-22.7¢), Texas (-21.9¢), Florida (-18.4¢), New Mexico (-18.1¢), South Carolina (-17.8¢).

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