High gas prices are listed at Chevron gas station in Los Angeles on March 9, 2026. Frederic J. BROWN/AFP via Getty Images
The national average price of regular gasoline was $4.24 per gallon on Thursday, down 18 cents since last week and registering the second consecutive weekly decline in prices.
“Pump prices are cooling off as the price of crude oil remains below $100 per barrel,” the American Automobile Association (AAA) said in a June 4 statement. “Drivers will take all the relief they can get as they embark on summer road trips. But uncertainty lingers over when the Strait of Hormuz will fully reopen and resume traffic. That unknown means oil prices will likely not decrease dramatically as summertime gasoline demand starts going up.”
