U.S. Fuel Prices Could Dip Below $4

GasBuddy measured the national gasoline average at $4.06 per gallon on Thursday, with the same figure holding early Friday. Patrick De Haan, GasBuddy’s petroleum expert, expects it to cross below $4 by next week—a level motorists have not seen since July. He also forecasts diesel under $6 per gallon by Thanksgiving.

De Haan tied much of the recent decline to expectations surrounding the U.S. midterm elections. Markets anticipated that voter frustration over the war in Iran could push the Trump administration toward an agreement ending the conflict. More tanker movement through the Strait of Hormuz has also reduced pressure on worldwide oil supplies. On Thursday, Brent crude reached $97.44 by midday, while West Texas Intermediate traded at $90.42 per barrel.

Seasonal changes are helping too: fall brings fewer road trips, and stations are moving to cheaper winter-blend gasoline. Gulf Oil chief energy adviser Tom Kloza expects the U.S. average below $4 within 10 days. Station earnings are about 75 cents per gallon, compared with a more typical 40 cents. The Trump administration has also allowed tax-exempt red-dyed diesel more broadly, permitted Russian diesel imports and suspended Jones Act requirements. For Spokane commuters and parents, any local pump-price decline could lower everyday driving costs.