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Gas prices slip below $4 a gallon for first time since July
CBS News • • general
Key Points:
- Gasoline prices in the U.S. have dropped below $4 a gallon for the first time in nearly four months, with the national average at $3.98, down from $4.56 earlier this year.
- The decline is attributed to the seasonal switch from more expensive summer-blend fuels to cheaper winter blends, as well as reduced demand during the fall and winter months.
- Diesel prices have also decreased, now averaging $6.16 per gallon, down from $6.53 in late September.
- Global oil prices have fallen amid hopes for a potential U.S.-Iran deal to end conflict, with Brent crude trading around $91 per barrel, though experts remain skeptical about the likelihood of a resolution soon.
- President Trump indicated no intention to escalate the Iran conflict, but political analysts note that neither side has changed its negotiating stance, making a deal uncertain.
