Drivers are seeing modest relief at the pump as gas prices tick lower following a recent easing of geopolitical tensions.
The national average price for a gallon of regular gasoline fell 7 cents over the past week to $4.09, according to AAA.
The decline comes after a temporary ceasefire between the United States and Iran helped push crude oil prices below $100 per barrel. However, uncertainty remains, with reduced shipping activity in key global routes signaling continued caution in energy markets.
Gas demand increased over the past week, while domestic supply declined, contributing to ongoing price volatility. Production levels also rose slightly, reflecting adjustments in response to shifting demand.
Compared to a month ago, prices remain significantly higher, and they are nearly a dollar above where they stood at the same time last year.
Experts say while the recent drop is welcome, broader market instability means drivers should expect continued fluctuations in the weeks ahead.
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