Skip to content

US Gasoline Prices Fall to Two-Month Low With Pump Pain Easing

A run up in gas prices this year has helped fan the fastest rate of inflation in decades.

A run up in gas prices this year has helped fan the fastest rate of inflation in decades.

Photographer: David Paul Morris/Bloomberg

US retail gasoline prices fell below $4.50 a gallon for the first time since mid-May, starting to ease pressure at the pump for millions of Americans. 

The nationwide average was at $4.495 a gallon, according to data released on Tuesday by the American Automobile Association. Prices have fallen more than 10% since hitting a record last month and are on a 35-day slide, the longest run of declines since April 2020.