American drivers are finally seeing relief at the pump.
The national average price for regular gasoline fell to $3.999 per gallon on Thursday, according to the American Automobile Association (AAA), marking the first time in more than five months that the nationwide average has dipped below the $4 threshold.
The price was down nearly 3 cents from the previous day and represents the lowest national average since March 30.
GasBuddy reported a similar trend, placing the national average at roughly $3.98 per gallon early Thursday after prices first slipped below $4 on Sunday.
The decline comes as the Strait of Hormuz appears poised to reopen under a memorandum of understanding signed by the United States and Iran aimed at ending the conflict that disrupted a significant portion of global oil supplies.
President Trump signed the agreement Wednesday during a dinner at the Palace of Versailles in France, according to administration officials.
Iran’s closure of the Strait of Hormuz in late February removed roughly 20% of the world’s oil supply from global markets, sending crude prices sharply higher and triggering a surge in gasoline costs across the United States.
Gas prices climbed above $4 nationally in late March as shipping traffic through the critical waterway remained largely blocked.
The national average eventually peaked at $4.56 per gallon on May 21 before beginning a gradual decline amid growing expectations that negotiations would reopen the strategic shipping route.
More over at The New York Post:
Gas prices fall below $4 for first time in over 5 months after US-Iran agreement to reopen Strait of Hormuz https://t.co/mqSslEcWXj pic.twitter.com/RDXJGxb8PW
— New York Post (@nypost) June 18, 2026
