EL7.AI
CommoditiesMedium•10 November 2026•
1 min read

US Gas Prices Drop Below $4 as Gulf Escalation Risks Fade

Key Facts

1The US national average for regular gasoline dipped below the $4-a-gallon level ahead of the Thanksgiving travel period.
2Eurasia Group analysts lowered the odds of further Gulf region escalation to 30% from 60% following President Trump's comments.

The US national average for regular gasoline dipped below the $4-a-gallon level ahead of the Thanksgiving travel period. ZeroHedge reported that the decline is driven by a narrowing of gasoline and diesel crack spreads alongside easing geopolitical tensions in the Middle East.

Eurasia Group analysts lowered the odds of further escalation in the Gulf region to 30% from 60% following comments from President Donald Trump suggesting that additional strikes may be unnecessary. The analysts attributed this revision to increasing political constraints following the midterm elections, which has cooled the risk premium in energy markets.

The OPEC Monthly Report is scheduled for release on November 11, 2026, which may provide further insight into global production levels. Additionally, markets await the EIA Gasoline Stocks Change data due on November 12, 2026.