The national average price for a gallon of regular gas has dropped nearly 60 cents over the last month, to $3.928 per gallon on Wednesday, according to AAA. The price drop at the pumps is a culmination of four straight weeks of falling fuel costs.However, while gas prices have fallen by 60 cents per gallon, the national average price for a gallon of regular gas technically increased on Wednesday, rising ever-so-slightly from $3.926 on Tuesday. It marks the first time national gas prices have risen since around Memorial Day weekend. On May 21, two days before the weekend, gas prices reached a record high for the year, with a national average of $4.564 per gallon. That price was the highest national average cost for gas at any point during either term of President Donald Trump.Gas prices have fluctuated greatly in 2026, with fuel costs setting both a five-year low and a four-year high within just a few months. Issues ranging from weather-related concerns to geopolitics and war have affected gas prices in the country since the year began.
The national average price for a gallon of regular gas dropped to $2.79 on Jan. 12, 2026. This was the lowest national average gas price since 2021. Severe winter storms throughout the country caused gas prices to slightly rise in the subsequent weeks, with fuel costs returning to the $2.80-per-gallon range and eventually reaching $ 2.90 per gallon. On Feb. 28, Operation Epic Fury began, and the price of a gallon of regular gas rose to $2.98. Prices soared as the military operation commenced, ultimately reaching the aforementioned high of $4.564 per gallon.Gas prices fell below the $ 4-per-gallon threshold on June 19 for the first time since the end of March. The decrease is largely attributed to ongoing discussions of a peace agreement between the U.S. and Iran and, with it, the opening of the Strait of Hormuz, the energy chokepoint through which approximately 20% of the world’s oil supply is shipped. Reports of the talks stalling could further affect gas prices and cause them to rise again if no resolution is reached.
