Gas prices are falling toward $4 a gallon but outlook uncertain, analysts say [View all]
Source: ABC News
June 13, 2026, 5:02 AM
Gas prices have fallen toward $4 per gallon in recent weeks, nearing the milestone as oil costs have eased in response to negotiations between the United States and Iran.
The national average price of a gallon of gas stands at $4.10, marking a decline of 40 cents, or 8.8%, over the past month, AAA data showed. Gas prices, however, remain $1.12 higher than where they stood before the Iran war.
The national average price could drop below $4 over the coming days, though that outcome is hardly guaranteed, some analysts said. An ongoing global oil shortage threatens to rekindle price increases, especially in the event of escalating tensions in the Middle East, they added.
Ramanan Krishnamoorti, a professor of petroleum engineering at the University of Houston, said he expects gas prices to fall below $4 a gallon within as little as seven days. Still, he voiced uncertainty about the staying power of the potential relief. "I think you should be very, very skeptical," Krishanamoorti said. "Any global challenge is likely to put significant upward pressure on gasoline prices in the U.S."
Read more: https://abcnews.com/Business/gas-prices-falling-4-gallon-outlook-uncertain-analysts/story?id=133827602
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