U.S. oil prices fell below $4 a gallon for the first time since March

According to data from the American Automobile Association (AAA) on the 11th local time, the average price of gasoline in the United States fell back to $
3.
99 per gallon on the same day.
This is the first time since March that the price of gasoline in the United States has fallen below
$4 a gallon.

According to the American Automobile Association, U.
S.
gasoline prices fell 15 cents in the past week and 68 cents
in the past January.
Although U.
S.
gasoline prices fell back to $3.
99 a gallon, that figure is still up from $
3.
20 a gallon a year ago.
On June 14, the average price of gasoline in the United States hit a record $5.
02 per gallon before it began to fall
.

Affected by the conflict between Russia and Ukraine, crude oil prices have risen
sharply this year.
The price of West Texas intermediate crude oil (WTI), which rose as high as $120 a barrel in June, has fallen back to $
92 a barrel.

Brian Deese, director of the White House National Economic Council, said on the same day that falling oil prices below $4 is "important progress" for the American people, and oil prices will fall
further.
Diess also said the White House has been closely monitoring oil prices as well as energy supplies
.

The American Automobile Association data also said that despite the drop in oil prices, gasoline sales fell last week, indicating that Americans are changing their driving habits
in response to high oil prices.

For the fall in oil prices, analysts believe that the release of the Strategic Petroleum Reserve (SPR) by the US government played an important role
.
In March, the White House announced an average of 1 million barrels per day on the market over the next six months to counter rising crude and gasoline prices
.