US Gasoline Average Falls Below $4, AAA Reports

The American Automobile Association reported that the national average price of regular gasoline fell below $4 a gallon on Tuesday, November 10, for the first time since July 20, as oil prices declined. The drop followed weeks of decreases at the pump, though the precise national average varied by provider and observation date.

AAA put its average at $4.01 on Monday, November 9, before it moved below $4 the next day. GasBuddy reported a national average of $3.96 on Monday. The figures reflect different providers’ data, rather than a single shared reading. GasBuddy said its average had fallen 15.9 cents over the week to November 9, but remained 92.2 cents above its level a year earlier.

The Energy Information Administration’s latest weekly reading, covering the week of November 2, was $4.15 a gallon. That was above the previous highest nominal average for Thanksgiving week in its records, $3.65 in 2022. The comparison is for a specific holiday week and does not establish what drivers will pay this Thanksgiving. The EIA scheduled its next Thanksgiving-week price reading for November 23.

Wholesale gasoline and crude oil prices also fell. Gasoline futures declined about 21% between...