Gasoline prices fell below $4 a gallon for the first time in five months, good news for consumers still struggling with high prices for many other essentials.
The national average of the gallon of normal gasoline was 3.99 dollars this Thursday, according to the American Automobile Association (AAA, for its acronym in English).
Prices have fallen 15 cents in the last week and 68 cents in the last month, according to the association.
Shopping app GasBuddy reported Wednesday that the national average had already dropped to $3.98.
Falling prices for gasoline, airline tickets and clothing are giving consumers some relief, though inflation remains near its highest in four decades.
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Oil prices began to rise in mid-2020, as economies recovered from the initial shock of the pandemic.
They rose again as the United States and its allies announced sanctions against Russian oil over Russia's invasion of Ukraine.
However, oil prices have recently fallen on concerns about slowing economic growth around the world.
Benchmark crude in the US has recently dropped from over $120 in June to around $90 a barrel.
High prices can also make motorists drive less.
Gasoline demand in early August was down 3.3% from the same week last year, after coming closer to 2021 figures earlier in the summer.
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Pump prices are likely to be a major issue heading into the mid-term elections.
Republicans blame President Joe Biden for high gas prices, capitalizing on his decision to cancel a permit for a major pipeline and suspend new oil and gas leases on federal land.
Biden said over the weekend that a family with two cars is saving $100 a month because prices have fallen since peaking in mid-June.
"That's a breather," he said on the social network Twitter, "and we're not going to give in anytime soon."
Biden has also railed against oil companies, accusing them of not producing as much oil and gasoline as they could while making huge profits.
"Exxon has made more money than God this year," he said in June.
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Exxon responded that it has increased oil production.
Chevron's CEO said Biden was trying to vilify the industry against him.
The national average for gasoline has not been below $4 since early March.
Prices peaked at $5.02 a gallon on June 14, according to AAA.
They fell slowly for the rest of the month, and then began to fall more rapidly.
Motorists in California and Hawaii continue to pay more than $5, and other Western states are paying close to that.
The cheapest gasoline is found in Texas (3.49) and other states in the South and Midwest.
A year ago, the national median price hovered around $3.20 a gallon.
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