When will gas prices go down? Prices hit records as Iran war fuels uncertainty.

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Prices hit records as Iran war fuels uncertainty. Ivana Pino · Senior Writer M Michelle Coffey · Senior Editor, Personal Finance Wed, September 9, 2026 at 6:23 PM GMT+2 4 min read The national average price of gasoline hit a record high over Labor Day weekend as new escalations in the war between the U. S.

and Iran triggered a spike in oil prices, with Brent crude futures hitting $100 per barrel for the first time since July. "Average gasoline prices rose in nearly three out of five states over the last week, while diesel surged in every state — with some climbing nearly 50 cents per gallon in just seven days," said Patrick De Haan, head of petroleum analysis at GasBuddy, in his weekly newsletter. "The milestone many hoped to avoid has arrived: the national average price of gasoline on Labor Day set a new record for the holiday, eclipsing the previous mark of $3.

83 per gallon set in 2012. " As of Sept. 9, regular gas was $4 per gallon, with diesel sitting at over $5 per gallon, according to AAA.

Crude oil prices were trading above $90 per barrel, and Brent crude was above $100 per barrel.   However, despite elevated fuel prices, as a new season approaches, there may be hope for drivers who are feeling the pinch. Read more: Best credit cards for gas "Generally speaking, we do tend to see gas prices decline in the fall, for the opposite reason of why they go up in the spring," De Haan said in an interview with Yahoo Finance.

"In the fall, people stay closer to home, road trips wind down, and people get back to their grind. Temperatures cool off, so there's less outdoor activity, and then we also start to switch back to cheaper winter blends of gasoline in the fall. " So, what will it take for gas prices to fall?

Experts say it will take time for consumers to feel the ripple effects of lower oil. Changes in crude-oil prices can affect gas prices fairly quickly; however, the comedown from a gasoline price spike isn't always immediate. While oil prices are a key driver of what you pay at the pump, they don't tell the whole story.

Other factors, such as refining costs, disruptions in gasoline distribution, and retailers' price markups, can slow the rate at which gas prices return to normal after a spike. "There is a saying that pump prices rise like a rocket and fall like a feather, and that holds," said David Doherty, head of natural resources research at BloombergNEF. "It takes about three weeks for crude price rises to be fully felt in the price of gasoline prices, and it can take as much time for them to decline as refiners face an uncertain landscape when it comes to the price of crude, their main ingredient.

" Measures are being taken to ease the burden of gas prices for Americans Here at home, steps are being taken at the federal level to ease the financial burden of higher gas prices on everyday Americans. This includes the government's emergency EPA waivers , which allow nationwide sales of E15, gasoline blended with 15% ethanol, and the removal of all federal impediments to selling E10, gasoline blended with 10% ethanol, across the country. The EPA says this move will prevent disruption in America's fuel supply by keeping E15 on the market and giving Americans more fuel options.

Additionally, in March, the Trump administration ordered the release of 172 million barrels of oil from the U. S. Strategic Petroleum Reserve (SPR) alongside the 32 member countries of the International Energy Agency, who unanimously agreed to release a total of 400 million barrels of oil from their emergency reserves to address the global disruption.

Federal data shows that oil inventories in the SPR dipped below Biden-era lows earlier this summer and are now hovering around levels last seen in the early 1980s . A total of about 130 million barrels have been released from the SPR since early April. Read more: What's the Strategic Petroleum Reserve, and can it help lower gas prices?

At the state level, some states are implementing fuel tax holidays to help residents trim their costs. Read more: Trump backs gas tax holiday as pump prices rise. What drivers should know.

What you can do to protect your wallet now There are several ways consumers can take matters into their own hands to save money on fuel. Join fuel rewards programs: If you frequent a particular gas station, see if it offers a fuel rewards program you can join to start accruing rewards or earn a few cents off each gallon.   Comparison shop: Stopping at your nearest gas station may prove to be the most convenient option for gas, but it may not be the most cost-effective.

Before you pump gas, shop around and compare stations to ensure you're getting the best possible price. Get a credit card with gas rewards: If you're in the market for a new credit card, consider opting for one that offers cash back or points every time you fill up to help minimize the toll of elevated gas prices on your budget.   Read more: How a gas card can help you navigate high prices at the pump Read More Gas tops $4 and diesel is over $5.

How an extended war with Iran could push prices higher. Gas and diesel prices are hitting new highs as geopolitical instability in the Middle East disrupts supply. Here's a breakdown of how international tensions influence pump prices.

What's the Strategic Petroleum Reserve, and can it help lower gas prices? Can oil from the Strategic Petroleum Reserve spare Americans more pain at the pump? And if so, how much could it reduce gas prices — and for how long?

5 ways higher oil prices could impact your wallet Here's a closer look at how high oil prices can trickle down and raise your everyday costs. The US-Iran conflict could still drive up food prices. How to get ahead of it.

Farmers are warning of fertilizer shortages and price spikes tied to tensions in the Middle East. Here's how the war is influencing fertilizer costs and agricultural production. How a gas card can help you navigate high prices at the pump As gas prices increase, you can save by earning rewards on gas station spending.

Here's what to look for in a gas card. How to save money on gas (and big savings on diesel) Labor Day weekend Higher gas prices are set to squeeze Labor Day road-trip budgets. Here are the best gas deals to help drivers cut costs.