U.S. Average Gasoline Price Falls to $3.99 per Gallon, Down 46 Cents in a Month

S. 99 per gallon, falling below the $4 threshold for the first time in months. Patrick De Haan, a petroleum analyst at GasBuddy, reported the figure on X after reviewing more than 12 million individual price reports from over 150,000 gas stations across the country.

4 cents lower than a month ago. 07 per gallon on Saturday, June 13, 2026. Crude oil prices fell to $80 a barrel after surrendering roughly a third of their value from near $120 a barrel.

The Strait of Hormuz, which carries about a fifth of the world's oil, had been closed since late February. President Trump announced an agreement with Iran on Truth Social on Sunday, June 14, 2026. He stated: "The Deal with the Islamic Republic of Iran is now complete.

… I hereby fully authorize the toll free opening of the Strait of Hormuz, and … the immediate removal of the United States Naval blockade. " The agreement is set to be signed Friday in Switzerland. A gallon of regular gasoline fell about 46 cents over the past month.

Crude oil makes up close to 70 percent of the pump price. Economists refer to the slower decline at the pump compared with the sharper drop in crude as the "Rocket and Feather" theory. The Federal Reserve Bank of St.

Louis has documented the pattern for years. Inventory timing and retailer pricing behavior slow the pass-through when costs decline. The White House has promised quick relief at the pump. President Trump said the end of the conflict would bring prices down fast.

His press secretary said drivers could soon see gasoline cheaper than before the conflict began. The data shows a more gradual adjustment. For households, slower declines at the pump mean inflation cools more gradually than the oil chart indicates, keeping energy costs in view for the Federal Reserve even as the war premium disappears.