Gas Prices Tick Lower as Oil Dips

Prices may drop to $3 per gallon by June–September, the Treasury secretary said.

High gas prices are displayed at a Chevron gas station as an American flag flies, in El Segundo, Calif., on April 8, 2026. Mario Tama/Getty Images

Gasoline prices at the pump declined slightly over the past week, falling from $4.15 per gallon to $4.07 on Friday as oil prices dropped amid a ceasefire in Iran, according to data from the American Automobile Association (AAA).

“After last week’s announcement of a two-week ceasefire between the U.S. and Iran, the price for a barrel of crude oil has continued to trade below $100,” AAA said in an April 16 statement.