2 publishers · first seen Tue, 10 Nov 2026 11:15 UTC · updated Wed, 11 Nov 2026 19:59 UTC
Gas prices in the U.S. have fallen below $4 per gallon for the first time since July, with the national average now at $3.98, according to GasBuddy. This drop follows a period of record highs earlier this year, driven by the war with Iran and the closure of the Strait of Hormuz. However, the U.S.'s increasing ability to transport oil through the strait has alleviated supply concerns, leading to a decrease in prices. Despite this, inflation remains higher than expected, with the Consumer Price Index rising 0.4% in October. The drop in gas prices is also attributed to the seasonal switch from summer-blend to cheaper winter-blend fuels and a decrease in demand during the winter months.
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