{"id":1422,"date":"2026-06-18T12:37:06","date_gmt":"2026-06-18T12:37:06","guid":{"rendered":"https:\/\/trustedmovinggroups.com\/?p=1422"},"modified":"2026-06-18T12:37:06","modified_gmt":"2026-06-18T12:37:06","slug":"gas-prices-fall-below-4-for-the-first-time-since-march","status":"publish","type":"post","link":"https:\/\/trustedmovinggroups.com\/?p=1422","title":{"rendered":"Gas prices fall below $4 for the first time since March"},"content":{"rendered":"

Gas prices Thursday fell below $4 per gallon for the first time since March, bringing consumers some relief, after more than three months of elevated prices as a result of the Iran war. <\/p>

Read more Tropical Cyclone Arthur weakens to a low pressure area along the upper Texas coast<\/a><\/p>

Prices have sharply dropped from $4.56, this year\u2019s peak. As of Friday morning, the average price per gallon in the United States fell to $3.999, according motor club AAA data tracked by NBC News.<\/p>

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Still, even at that level, prices are more than 34% higher than before the U.S. and Israel launched the war Feb. 28.<\/p>

The drop in retail gas prices is thanks to tumbling oil prices, which have plunged 14% over the last five days as markets became more optimistic about peace with Iran. While oil is still more than 30% higher than it was before the war started, on Thursday it fell to its lowest levels since the conflict started. <\/p>

As of 8 a.m. ET, U.S. crude oil was trading at about $75 per barrel, while international Brent crude oil was trading around $79 per barrel. <\/p>

Experts are cautious about how much further prices can fall. Backup supplies in commercial and government stockpiles have mitigated higher prices, but those are now at critically low levels. <\/p>

Read more What\u2019s in the U.S.-Iran agreement and Hegseth calls NATO allies \u2018shameful\u2019: Morning Rundown<\/a><\/p>

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The key commercial oil hub in Cushing, Oklahoma, reached \u201coperational stress\u201d level Thursday, while the U.S. government\u2019s Strategic Petroleum Reserve fell to its lowest level since 1983 on Monday.<\/p>

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While the U.S. and Iran have signed and published the text of a memorandum of understanding to halt the war, a fuller agreement is contingent on a 60-day negotiating period. Additionally, the Strait of Hormuz \u2014 where previously more than 20% of the world\u2019s energy supplies passed to reach global markets \u2014 remains effectively shut.<\/p>

On Friday, Chevron CEO Mike Wirth said, \u201cThe real question, is how much longer can these measures kind of ameliorate the risk.\u201d<\/p>

\u201cAt some point, they may not be able to,\u201d he added.<\/p>

Asked when he thought that might be, Wirth said in an interview with Bloomberg that it was \u201cprobably\u201d in the July or August time frame.<\/p>

Read more Brunson and Hart throw out first pitches at Yankee Stadium as Knicks celebrate NBA title<\/a><\/p><\/div>","protected":false},"excerpt":{"rendered":"

Gas prices fell below $4 per gallon for the first time since March after more than three months of elevated prices as a result of the war in Iran.<\/p>\n","protected":false},"author":1,"featured_media":1421,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-1422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iran-war"],"yoast_head":"\nGas prices fall below $4 for the first time since March - Trusted Moving Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trustedmovinggroups.com\/?p=1422\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gas prices fall below $4 for the first time since March - Trusted Moving Group\" \/>\n<meta property=\"og:description\" content=\"Gas prices fell below $4 per gallon for the first time since March after more than three months of elevated prices as a result of the war in Iran.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trustedmovinggroups.com\/?p=1422\" \/>\n<meta property=\"og:site_name\" content=\"Trusted Moving Group\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-18T12:37:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media-cldnry.s-nbcnews.com\/image\/upload\/rockcms\/2026-01\/asterisk-43f04b.svg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/trustedmovinggroups.com\\\/#\\\/schema\\\/person\\\/98cd83efb686ecde03e082abca618eaa\"},\"headline\":\"Gas prices fall below $4 for the first time since March\",\"datePublished\":\"2026-06-18T12:37:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422\"},\"wordCount\":400,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/trustedmovinggroups.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/96536340c2bf71f93b987963d48a8ce4.webp\",\"articleSection\":[\"Iran war\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422\",\"url\":\"https:\\\/\\\/trustedmovinggroups.com\\\/?p=1422\",\"name\":\"Gas prices fall below $4 for the first time since March - 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