Gas prices drop below $4 for first time since July despite inflation

US petrol prices have fallen below $4 a gallon for the first time since July, offering drivers some relief even as inflation rose faster than expected. The decline follows record prices linked to the war with Iran and the closure of the Strait of Hormuz.

GasBuddy put the national average at $3.98 on Tuesday and expected it to keep falling through November. Meanwhile, the Consumer Price Index rose 0.4% in October, exceeding the forecast 0.3%; the article attributes the pump price easing to improved US ability to move oil through the strait and White House peace overtures.