U.S. Gasoline Prices Fall Below $4 a Gallon as Crude Costs Retreat

U.S. retail gasoline prices dropped below $4 per gallon for the first time in months, reaching $3.9788 on Tuesday according to AAA data and $3.96 in GasBuddy reporting. Pump prices have retreated steadily from a September peak of $4.494 per gallon, down nearly 16 cents over the past week. The downturn follows a drop of nearly 13%, or about $10 a barrel, in WTI crude oil futures amid seasonal demand moderation and easing tensions between the U.S. and Iran. GasBuddy forecasts prices will hit $3.70 to $3.75 by Thanksgiving.