# Gas prices drop below $4 a gallon for first time since July, after Trump signal no Iran strikes anytime soon

- URL: https://talkfuse.com/story/gas-prices-drop-below-4-a-gallon-for-first-time-since-july-after-trump-signal-no-iran-strikes-anytime-soon/
- Published: 2026-11-10T17:36:51+00:00
- Updated: 2026-11-10T18:40:43+00:00
- Original publisher: New York Post (publisher lean: Right)
- Original article: https://nypost.com/2026/11/10/business/gas-prices-drop-below-4-a-gallon-for-first-time-since-july/
- Topics: Middle East, World

## Key points

- US petrol averaged $3.98 a gallon, below $4 for the first time since July.
- Lower oil prices followed signals that US strikes on Iran are unlikely soon.
- Diesel remained high at $6.16 a gallon, keeping pressure on costs.

## Summary

The US national average petrol price fell to $3.98 a gallon on Tuesday, dipping below $4 for the first time since 20 July. The decline followed a sharp fall in oil prices after President Donald Trump said a resumption of US strikes on Iran was highly unlikely while nuclear negotiations continue.

Brent crude briefly dropped below $90 a barrel after falling 13% last week, its steepest weekly decline since April 2020. An industry consultant said petrol could remain below $4 until spring, with a possible low of $3.60 to $3.65, but renewed conflict or disruption to Gulf oil supplies could reverse the fall quickly. Petrol remained about 30% above its level before US and Israeli strikes on Iran began on 28 February, while diesel was $6.16 a gallon; higher fuel costs are also contributing to inflation and transport-related expenses.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.