Gasoline prices just fell below $4 per gallon - by the smallest possible amount
By Steve Goldstein
Gas prices are now below $4 per gallon nationally.
It's official - gasoline prices are no longer above $4 per gallon. Barely.
According to AAA, the national average was $3.9990 a gallon as of Thursday. That is below the $4.56 peak but still well above the sub-$3 average before the U.S. and Israel jointly attacked Iran, which then closed off the Strait of Hormuz to oil-tanker traffic.
Crude-oil futures (CL00) on Thursday were trading down over 2%, to $74.29, well below peaks of as high as $119.48, which comes after the U.S. and Iran jointly signed a memorandum of understanding in which Iran said it would let Hormuz traffic to resume and the U.S. said it would end a blockade of Iranian oil.
Analysts say the resumption of oil flows, which, should all things being equal, lower prices, may be balanced by the need for governments to replenish dwindling stockpiles.
-Steve Goldstein
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
06-18-26 0657ET
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy for the Long-Term While They’re Still Undervalued
Are TIPS ETFs the Best Way to Fight Inflation?
What’s Ahead for Stocks This Quarter—and Where to Invest
10 Best Blue-Chip Stocks to Buy for the Long Term
United States