U.S. Gasoline Average Slips Below $4 as Crude Retreats
AAA put regular gasoline at $3.9788 a gallon Tuesday, as lower crude prices and seasonal demand trends helped ease pump costs.
Key takeaways
- AAA’s U.S. average for regular gasoline fell to $3.9788 a gallon Tuesday.
- The average was down about 17 cents from a week earlier.
- U.S. diesel prices remained above $6 a gallon.
The U.S. average price for regular gasoline fell to $3.9788 a gallon Tuesday, its first reading below $4 since July, according to AAA. Prices were down about 17 cents from a week earlier and nearly 39 cents from a month earlier.
The decline followed a retreat in crude oil prices. Brent crude briefly dropped below $90 a barrel Tuesday as hopes for reduced tensions in the Middle East eased concerns about oil supply, CNBC reported.
Gasoline prices also tend to fall as driving demand eases in winter. Diesel remained above $6 a gallon, at $6.1572 Tuesday, according to AAA data cited by OilPrice.com.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
