For the first time since March, the average U.S. price for a gallon of gas slipped below $4 Thursday, the Associated Press reports.
That level has not been seen since the first full month of the war with Iran, with whom the U.S. has a tentative peace deal. Resumed oil shipments through the Strait of Hormuz are driving energy prices lower, although the cost of gas remains steeply higher than before the war began Feb. 28.
A gallon of regular gasoline averaged $3.999 on Thursday, according to motor club AAA. The drop aligns with easing crude oil costs overall.
Still, American drivers are paying roughly $1 more per gallon than they were before the war, and gas prices are up around 25% from this time last year.
