Overview
- The national average for regular gasoline dropped to $4.164 per gallon, marking a third straight week of declines and a roughly 16-cent fall from a week earlier.
- Prices are about 38 cents lower than a month ago and roughly 40 cents below the 2026 peak recorded on May 21.
- Relief has reached 23 states with averages under $4 per gallon, while regional gaps persist with California at about $5.895 and Indiana at about $3.438 per gallon.
- Analysts attribute the recent pullback to diplomatic speculation and reduced fears about the Strait of Hormuz after earlier spikes tied to winter weather and the start of Operation Epic Fury.
- Renewed airstrikes between Iran and Israel pose a near-term upside risk that could tighten oil markets and quickly raise pump prices, so drivers and markets should watch shipping through the Strait and oil supply reports.