Updated on June 18.
The average regular gas price in the U.S. as of June 12 is $3.999 per gallon, according to AAA.
- One week ago: $4.129
- One month ago: $4.5150
- One year ago: $3.188
The U.S. and Iran have signed a “memorandum of understanding” that extends a sometimes shaky ceasefire and promises to reopen the Strait of Hormuz to tanker traffic. Negotiations will continue, however, over the fate of Iran’s store of nuclear material.
Oil prices began dropping on news of the agreement broke on June 14, and is now trading below $80 a barrel. Gas prices have been easing in recent weeks and the national average for a gallon of regular gas is now below $4 for the first time in months.
On Feb. 28, the first day of the U.S.-Israeli attacks on Iran, the national average price of a gallon of regular gas was just under $3. “For now, the national average could continue falling, provided there isn’t a drastic reversal and the U.S. and Iran continue moving in a positive direction,” according to Patrick De Haan, head of petroleum analysis at GasBuddy, which tracks gas prices.
But any return to pre-war prices could be as far as a year away as global energy supply recovers from what has been a major disruption.
Shipping movement through the strait has been effectively frozen since the U.S. and Israel launched their attack on Iran on Feb. 28, leading to spiraling energy prices around the world. A ceasefire began on April 8 and has been extended indefinitely while talks continue.
State prices for a gallon of regular range from $3.399 in Indiana to $5.642 in California, according to AAA.
The text and charts below are updated weekly.
What are gas prices like right now?
As of June 18, gas prices have subsided after topping $4.50 nationally last month. Oil prices have fallen dramatically, to below $80 a barrel, but remain volatile.
Gas prices were below $3 in 39 states in February. As of June 4, Indiana has the lowest average price at $3.399.
Meanwhile, refineries have switched back to producing a summer blend, which is more expensive than the winter blend.
The U.S. Energy Information Administration says the falling price of crude oil — accounting for half of retail gas prices — helped lower prices at the pump in 2025. On a monthly average basis, the price of Brent crude oil dropped from $79 per barrel in January 2025 to $63 per barrel in December 2025 — its lowest average monthly price since the start of 2021, according to the EIA.
Oil prices spiked after the U.S.-Israeli attack on Iran began on Feb. 28, peaking at over $110 per barrel as oil shipments through the Strait of Hormuz were halted because of the war.
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Gas price inflation, explained
Gas prices surged in 2021 and 2022, largely due to two economic disruptions: pandemic-related supply shocks and then Russia’s invasion of Ukraine. The combination of the two hit energy markets hard and prices never recovered to pre-pandemic levels.
Here’s what happened:
- In 2019, before the pandemic, the average per-gallon price of regular gas was $2.601, according to EIA data.
- Following Russia’s invasion of Ukraine, the national average increased before peaking at $5.016 per gallon on June 14, 2022, according to AAA.
- Until the Iran invasion, gas prices had retreated, but hadn’t returned to pre-pandemic levels.
Why gas prices remain higher than they used to be
At this time of year, seasonal factors play a considerable role in raising gas prices. A scheduled switch to summer-blend gasoline temporarily elevates prices through the warm months. Inflation, supply-chain disruptions and gas tax hikes can factor into higher prices, as well. But in the end, elevated oil prices are the main culprit.
The cost of oil typically represents more than half of the cost of a gallon of gasoline, according to the U.S. Energy Information Administration (EIA). So, a major reason gas prices have remained so high is that, until recently, oil prices were higher than they were before the pandemic hit in 2020 and Russia invaded Ukraine in 2022. That’s based on the average monthly price of West Texas Intermediate crude, which is used as the benchmark for oil prices in North America.
For much of the year to date fuel costs had been lower than they were a year ago. That has changed dramatically in the last few weeks. Here’s how gas prices compare today:
As of June 18, the average regular gas price in the U.S. is $3.99 per gallon, according to AAA, which tracks gas prices.
- The price is down from $4.129 a gallon a week ago.
- The price is down from $4.515 per gallon a month ago.
- A year ago, the price was $3.188 per gallon.
Oil prices are still below their June 2022 peak of almost $120 per barrel.
Average gas price per state
The average gas price per state varies widely, with the most expensive state typically costing about $2 more per gallon of regular than the least expensive state.
(Photo by Joe Raedle/Getty Images)
