Story at a glance
- The nationwide average for a gallon of regular gasoline is now $3.98 per gallon.
- The price fell below $4 per gallon for the first time since March on Thursday.
- Average gas prices have fallen by more than a dollar since they peaked at $5.02 in June.
Average national gasoline prices remained under $4 per gallon for the second straight day after falling below the mark on Thursday for the first time since March.
The nationwide average for a gallon of regular gasoline is currently $3.98 per gallon, according to the American Automobile Association (AAA).
The cost per gallon is currently its lowest in Texas, where the average price at the pump is $3.48 per gallon.
Rounding out the top five cheapest states for a gallon of gas are Arkansas, Tennessee, Georgia, and Oklahoma. In each of these states, Americans will find the average price per gallon below $3.55.
But prices remain above $4.38 in several states across the American West and in pockets of the Northeast.
The average price per gallon is the highest in California at nearly $5.38. In neighboring Nevada, residents are paying an average price per gallon of $4.95.
Along the East Coast, gas prices in New York currently sit at $4.37, followed by Vermont, Maine and Massachusetts — each with average prices per gallon above $4.30
Yet average gas prices have fallen by more than a dollar since they peaked at $5.02 in June.
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The Biden administration touted the continuing price drop on Thursday as a welcome victory, but the president vowed to do more.
“Today’s news that the average national gas price is below $4 a gallon is welcome relief to working families,” Biden wrote on Twitter.
“That’s over one dollar down from peak prices. And I’m not done calling on oil producers to increase global supply so prices can drop even more.”
Russia’s invasion of Ukraine hit oil markets and global gas prices hard as governments cut off energy supplies from Moscow. Demand ahead of the summer driving season also drove up the price at the pump.
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