US Gas Prices Slip Below $4 as Summer Driving Season Begins

The national average for regular gasoline fell to $3.91 a gallon on June 22, sliding back below the $4 threshold that had held since early May. Premium gasoline averaged $4.90 a gallon on the same date, according to the latest data.

The decline comes as the summer driving season gets underway, a period that typically pushes prices higher. The break below $4 suggests that supply-side pressures – including refinery utilization rates and crude oil costs – are easing faster than seasonal demand can offset.

Traders will watch the next weekly Energy Information Administration inventory report for confirmation. A build in gasoline stocks would reinforce the view that the current price dip has room to run. A drawdown, by contrast, would put the $4 level back in play before July 4th travel peaks.

For a broader look at the forces driving energy markets, see our commodities analysis.