Gas Prices Fall Below $4 Nationally
The national average dropped below $4 per gallon for the first time since early August as refiners increased output.
Updated on Nov. 9, 2026 in Economic Indicators
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Gasoline prices fell in every state over the past week, with the national average dropping to $3.96 per gallon. Springfield averaged $3.94 per gallon, down 7.7 cents over the week and 15.8 cents from a month ago.
Why it matters
The decline reflects seasonal demand easing with cooler weather and refiners finishing maintenance and raising output. Diesel prices also declined in nearly every state, pointing to broad relief across fuel markets.
Retail gasoline price survey data show the national average at $3.96 per gallon and Springfield at $3.94, down 7.7 cents over the week in Springfield alone. The data do not indicate how long the decline will last.
The players
Strait of Hormuz
A narrow strait between Iran and Oman that is one of the world's most important oil shipping chokepoints.
The details
Refiners completed maintenance and increased output, while demand fell with cooler weather. Gasoline prices declined in every state over the last week, and diesel prices fell in nearly every state.
Timeline
November 9 each year from 2021 to 2025 provides the comparison point for Springfield and U.S. gas prices.
Prices could remain below $4 per gallon in the weeks ahead.
Economic Indicators Trend
Springfield's November 9 gasoline price fell from $3.79 per gallon in 2022 to $2.89 in 2025, a decline that tracks the wider drop in the national average over the same period. The latest weekly decline extends that multi-year downward pattern.
Lower gasoline prices reduce what drivers spend at the pump, easing household transportation budgets. Diesel price declines across nearly every state may also ease costs for goods moved by truck.
The takeaway
Gasoline price swings track seasonal demand and refinery output, so drivers can watch weekly averages to judge when fuel costs are easing. Comparing current prices with the same date in prior years helps separate a seasonal dip from a lasting trend.
Further reading
For more on the price data behind this drop, see Economic Indicators.
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