The average price for a gallon of gas dipped below $4 on Tuesday morning for the first time in the U.S. since March, according to fuel pricing platform GasBuddy, a welcome milestone as prices continue to fall dramatically from their all-time highs.
The average price for a gallon of gas is $3.999, GasBuddy reports, a stark 20.5% decline from the June 16’s all-time high of $5.034.
The nation’s other leading gas price tracker AAA still estimates the average price for a gallon of gas is $4.033, and AAA reports the average price is still over $4 per gallon in 26 states and Washington, D.C., led by California at $5.420 and Hawaii at $5.417.
Gas prices are still up 82 cents compared to a year ago and $1.72 from the 2022 low of $3.279 on January 2, according to GasBuddy.
Gas prices exploded after Russia’s invasion of Ukraine in February threatened global crude oil supply, and broke the $4 mark in March for the first time in the U.S. since 2008.
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Article URL : https://www.forbes.com/sites/dereksaul/2022/08/09/gas-falls-below-4-a-gallon-for-first-time-since-march/?sh=545e26653a4d