Gas prices have plunged nearly 60 cents per gallon in just one month — bringing the national average to $3.928 on Wednesday after four straight weeks of relief at the pump.
The drop marks a dramatic reversal from the record high set Memorial Day weekend, when the national average hit $4.564 per gallon on May 21 — the highest fuel cost of either Trump term.
Wednesday’s price ticked up slightly from Tuesday’s $3.926, the first increase since late May. But the monthlong slide has saved American drivers real money as summer travel season heats up.
Gas prices fell below $4 per gallon on June 19 for the first time since the end of March.
The price drop comes as peace talks between the U.S. and Iran continue over reopening the Strait of Hormuz, the energy chokepoint that carries 20 percent of the world’s oil supply. Reports the talks are stalling could reverse the gains if no deal is reached.
Fuel costs have swung wildly in 2026. The year opened with a five-year low of $2.79 per gallon on January 12 before winter storms and the launch of Operation Epic Fury on February 28 sent prices soaring past $4.
Regional gaps remain stark. Hawaii now leads the nation at $5.539 per gallon, narrowly topping California’s $5.535. Washington follows at $5.30, Alaska at $4.952, and Oregon at $4.803.
Indiana continues to have the cheapest gas in America at $3.325 per gallon, followed by Texas at $3.376, Oklahoma at $3.433, Tennessee at $3.465, and Louisiana at $3.511.
The wild ride isn’t over. Gas-market instability remains the only stable thing about 2026 fuel prices — and any breakdown in Iran peace talks could send drivers back to the pump with lighter wallets.
