Gas Prices Fall Amid Optimism Over Strait of Hormuz

The national average price for a gallon of regular gasoline has decreased by three cents to $4.06, according to AAA.

This decline is largely attributed to lower crude oil prices, which are currently trading in the $70 per barrel range. The optimism surrounding the resumption of normal operations at the Strait of Hormuz has contributed to this decrease.

Currently, half of states have an average gas price below $4 per gallon. Typically, gas prices begin to drop during this time of year as schools and universities start their fall semesters and fewer people take road trips.