Fuel prices are finally moving the other direction after weeks of steady increases, offering drivers a small break at the pump. AAA’s national average for regular gas stood at $4.042 per gallon on April 20, down about 8 cents from a week earlier. Diesel was also down week over week, sitting at $5.837 per gallon nationally.
The pullback comes after oil prices eased on cease-fire news in the Middle East, though the situation remains unsettled. The Strait of Hormuz briefly appeared to reopen, but shipping disruptions and new restrictions have continued, keeping energy markets on edge.
A few state tax moves may also be helping at the local level. Georgia suspended its motor fuel excise tax through May 19, while Indiana suspended its gasoline use tax for 30 days starting April 8. Utah leaders have also announced a fuel-tax reduction plan, though that relief is tied to separate state action.
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