U.S. Gasoline Prices Could Fall Below $4 a Gallon as Soon as Tuesday

According to Jin10, the U.S. average gasoline price could fall below $4 per gallon as soon as Tuesday, CBS reported, which would be the first time since July. As of Monday, the American Automobile Association (AAA) put the national average for regular gasoline at $4.0093 per gallon, down more than 36 cents from a month earlier and 16 cents from a week earlier. Diesel prices fell by about 10 cents over the past month and remained about $2.44 per gallon above their level a year earlier, but had retreated from the record high set on September 22. Gasoline prices in the U.S. typically decline in fall and winter as the market shifts to less expensive winter-blend fuel and people generally drive less. Refinery maintenance is also nearing its end, which is expected to increase refining capacity, production, and market supply.