Average gas price just below $4 for first time since March

Some more good news for American drivers: gas prices on Thursday fell below the $4 mark for the first time in five months.

The national average for a gallon of gas stood at $3.99, AAA said—a significant drop from the $5.02 peak in June, but still a long way from the $3.20 average the same time last year.

Prices at the pump dropped 15 cents in the past week and 68 cents in the last month, AAA said, even as inflation levels remain close to a four-decade high.

President Joe Biden said that families that own two cars were saving about $100 a month now owing to falling gasoline prices. “That’s breathing room,” he said on Twitter. “And we’re not letting up any time soon.”