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Gas prices dipped slightly this week, but they are still on track for the most expensive October on record. AAA put the national average for regular at $4.30 a gallon on Saturday, October 24. That is up about $1.23 from a year ago. Meanwhile, oil prices jumped to a six-month high on fears of new U.S. strikes on Iran.
Here is what is driving the cost at the pump, what could happen next and how to spend less on fuel.
Key Takeaways
- AAA’s national average for regular gas was $4.2957 on October 24, compared with $3.0679 a year ago.
- Prices fell 6 cents in the week to October 22, mostly due to the switch to cheaper winter-blend fuel, AAA said.
- October is set to be the most expensive October ever for gas, after records in August and September.
- Brent crude closed at $116.72 a barrel on Friday, its highest settlement since April 29, CNBC reported.
- Diesel averages $6.3374 a gallon, close to its all-time high of $6.5276 set on September 22.
Where Gas Prices Stand Now
The latest numbers come from AAA’s daily fuel gauge. As of October 24, the national averages were:
- Regular: $4.2957 (yesterday $4.2926, a week ago $4.3085)
- Mid-grade: $4.8109
- Premium: $5.2047
- Diesel: $6.3374
- E85: $3.3575
A month ago, regular averaged $4.4825. So drivers have seen some relief this fall. Still, the gap with last year is huge. A year ago, regular cost $3.0679, according to AAA. NBC News noted that gas is up nearly 40% from a year earlier.
The record for regular remains $5.0165, set on June 14, 2022. Diesel, by contrast, set its record just last month.
Why Gas Prices Fell a Little This Week
In a weekly update on October 22, AAA said the national average fell 6 cents to $4.27. The reason is seasonal. Stations are switching to winter-blend gasoline, which is cheaper to produce and costs less for drivers.
However, AAA warned that high crude oil prices “are preventing steep declines at the pump.” The group said oil was nearing $100 a barrel amid instability in the Strait of Hormuz.
Oil Hits a Six-Month High
On Friday, oil climbed again. Brent crude, the global benchmark, rose 3.1% to settle at $116.72 a barrel, CNBC reported. U.S. West Texas Intermediate gained 3.8% to $103.27.
For the week, Brent rose 6.2%, its third weekly gain in a row. WTI added 2%.
What Is Pushing Oil Higher
Investors increasingly expect the U.S. to resume strikes on Iran in the coming weeks, CNBC said. Here are the main reasons cited:
- President Donald Trump said the U.S. was not negotiating with Iran and that something would happen “fairly soon.”
- U.S. officials told The New York Times that the U.S. and Israel have plans for fresh strikes on Iran after the midterm elections.
- Iran-allied Houthi militants have kept attacking Saudi Arabia. The State Department ordered all non-essential personnel to leave the country.
- Saudi Aramco told staff to evacuate its Dhahran headquarters and work remotely, Reuters reported, according to CNBC.
What Higher Oil Could Mean for Gas Prices
Crude oil is the biggest single input in the price of gasoline. So when oil rises and stays high, pump prices usually follow. For now, the winter-blend switch is softening the blow.
No one can say for sure where gas prices go next. Much depends on events in the Middle East. If tensions ease, oil could fall. If they escalate, prices could climb again. Either way, it is smart to plan your fuel budget with some cushion.
Diesel Hits Truckers and Shoppers
High diesel prices matter even if you drive a gas car. Trucks and farm equipment run on diesel. So higher diesel costs can show up in the price of food and other goods over time.
How to Save Money on Gas
You cannot control oil markets. But you can control how much fuel you use. The U.S. Department of Energy’s FuelEconomy.gov offers these tips:
- Drive gently. Speeding, rapid acceleration and hard braking can cut gas mileage by roughly 15% to 30% at highway speeds.
- Slow down. Gas mileage usually drops quickly above 50 mph. Each extra 5 mph over 50 is like paying about $0.30 more per gallon.
- Lose the roof box. A large rooftop cargo box can cut fuel economy by 6% to 17% on the highway.
- Clear out the trunk. An extra 100 pounds can reduce your mileage by about 1%.
- Don’t idle. Idling can burn a quarter to a half gallon of fuel per hour.
- Check your tires. Proper tire pressure can improve gas mileage by 0.6% on average, and up to 3% in some cases, according to FuelEconomy.gov.
Also, compare prices near you before you fill up. Prices can vary a lot from one station to the next. Store loyalty programs and fuel rewards cards can also help. See our credit card hacks for cash back for ideas.
What About EVs?
If you drive an electric car, public charging costs have held steady. AAA said the national average at public EV stations stayed at 41 cents per kilowatt hour last week.
Gas Prices and Your Budget
Fuel costs are hitting family budgets at the same time as other prices. Stock market swings have also rattled savers, as our report on the Nasdaq AI sell-off and your 401(k) explains. Retirees can also see how this year’s cost of living compares in our post on the Social Security COLA for 2027.
Frequently Asked Questions
What is the national average for gas today?
AAA reported $4.2957 a gallon for regular on October 24, 2026. Check AAA’s site for the latest daily number.
Why are gas prices so high in 2026?
Oil prices are high amid instability in the Strait of Hormuz and fears of new U.S. strikes on Iran. Gas costs nearly 40% more than a year ago.
Why did gas prices drop this week?
AAA said the 6-cent drop came from the switch to winter-blend gasoline, which is cheaper to make.
What is the record for gas prices?
The record national average for regular is $5.0165, set on June 14, 2022, according to AAA.
How can I save on gas?
Drive more gently, slow down on the highway, remove extra weight and keep your tires properly inflated.
Sources
- AAA Gas Prices: national averages (AAA)
- National Average Falls 6 Cents, But Crude Oil Nears $100/Barrel (AAA Newsroom)
- Brent crude rises to six-month high (CNBC)
- Halloween candy sales are off to a slow start (NBC News)
- Driving More Efficiently (FuelEconomy.gov, U.S. Department of Energy)
- Keeping Your Vehicle in Shape (FuelEconomy.gov)
