Overview
- The national average for a gallon of regular gas fell to $4.108 on Friday, June 12, marking a three‑week run of declines and a drop of more than 40 cents from mid‑May levels.
- Prices peaked at $4.564 on May 21 before the late‑May slide, showing how closely short‑term pump moves have tracked spikes and lulls in the U.S.–Iran military conflict.
- Analysts point to low U.S. fuel inventories, constrained refinery capacity, and shipping uncertainty near the Strait of Hormuz as reasons the recent relief could quickly reverse.
- Diesel costs remain higher than gasoline and are pushing up freight and shipping expenses, which can filter into consumer prices for goods and travel.
- Regional gaps persist with West Coast states, especially California, holding the highest averages while states such as Indiana and parts of the Midwest have the cheapest gas.