Good newsUS Gas Prices Fall 23 Cents in a Month as Oil Drops
The average US price of regular gas is $4.17, down 12 cents in a week and 23 cents in a month, and oil had its sharpest drop since July on Iran talks. It is still 37 percent above a year ago.
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Gas Costs 37 Percent More Than a Year Ago as Americans Vote
The price of a gallon of regular gasoline in the United States has now fallen for a month. The American Automobile Association (AAA) put the national average at $4.17 on Monday, down from $4.29 a week earlier and $4.40 a month earlier. That is a saving of 23 cents a gallon, or about $3.45 on a 15-gallon fill-up. Drivers feel that at the pump before the news catches up.
The fuel for the next move came from oil markets on Monday. NBC News reported that Brent crude fell 7.6 percent to close at $104.77 a barrel, and US crude fell 7.3 percent to $96.46. Those were the biggest one-day percentage falls since 27 July, and the biggest in dollar terms since 17 April. Investors were reacting to headlines suggesting the administration might end the conflict with Iran without further escalation.
Chart: GoodBad. Data from AAA Gas Prices, readings dated 2 November 2025 to 2 November 2026.
How much further it could fall
The pump follows wholesale fuel with a lag, so Monday’s drop has not yet reached drivers. Patrick De Haan, head of petroleum analysis at GasBuddy, said in a post on X that wholesale gasoline and diesel pointed to a decline of roughly 16 cents a gallon. He said the national average could fall below $4 within a week unless something changes, according to Al Jazeera. That is a forecast from one analyst, and the outcome depends on what happens next with Iran.
Diesel, which moves freight and therefore the price of almost everything on a shelf, eased too. AAA has the national average at $6.29 a gallon, 6 cents lower than a week ago. Diesel futures slid 5.4 percent on Monday, NBC says. The peak in this episode was $6.53, reached in September, so diesel has now come off its high by about 24 cents. Cheaper diesel passes into freight costs, though with a delay and never in full.
What is still high
The relief is partial, and it starts from a high base. A gallon cost $3.04 a year ago, and $2.98 on 28 February, the day the United States and Israel first struck Iran. Today’s price is still about 37 percent higher than a year ago. NBC reports that global oil prices are up about 45 percent since the war began, and diesel is 77 percent above where it started the year.
The record for regular gasoline remains $5.02, set on 14 June 2022, which today’s price sits well below. Prices also vary widely: AAA lists $5.66 in Hawaii and $3.95 in Delaware. Analysts quoted by NBC, including Bank of America’s Francisco Blanch, warned in September that renewed damage to energy infrastructure could push oil as high as $150 a barrel. If skirmishes continue, Blanch wrote, Brent could trade between $95 and $120 until the end of the year.
For households, what happens next is a price that is falling from a level still $1.13 a gallon above where it stood a year ago. The next data point is the AAA reading in a week. That is when the GasBuddy forecast of a sub-$4 average meets the market. If it holds, the average will have fallen by more than 40 cents in about five weeks.
