Gas Prices Fall Below $4
Nov 12, 2026
It's Benzinga, bringing Wall Street to Main Street.
The national average price
for regular gasoline fell below $4 per gallon Tuesday
for the first time since July 20th, according to NBC News.
AAA data shows that the average dropped
from $4.14 on Election Day to $3.97
as oil prices plunged amid expectations of reduced tensions
with Iran following the midterm elections.
Diesel prices also declined from $6.28 to $6.15 per gallon.
Oil futures fell 13% last week and another 5% Monday,
while Brent crude briefly dropped below $90 per barrel Tuesday.
However, gasoline remains more than 30% higher since
the Iran war began on February 28,
while diesel is up more than 70% this year.
Oil markets face pressure to replenish hundreds
of millions of barrels of depleted reserves,
with the U.S. Strategic Petroleum Reserve
at its lowest level since 1982.
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