ICYMI: Gas Prices Drop Below $4

Today, the nationwide average gasoline price fell under $4 for the first time since March. Gas prices continue the fastest decline in over a decade – with prices dropping every day this summer. As a result, American families with two cars are saving over $110 per month on average.

President Biden has taken historic actions to address Putin's price hike at the pump by releasing one million barrels of oil a day from the Strategic Petroleum Reserve, partnering with our allies to release an unprecedented amount of oil, and under his leadership, U.S. oil production is up and on track to reach a record high.

While more work remains, gas prices are coming down and the President continues to call on domestic and international oil producers to increase supply so they continue to come down.

Read more below:

The New York Times: Gas Prices in the U.S. Fall Below $4 a Gallon

Bloomberg: US Gasoline Prices Fall Below $4, Soothing Inflation Pressure

USA TODAY: Gas prices drop under $4 nationwide for first time in months. Will they continue to fall?

AP: Gas prices dip just below $4 for the first time in 5 months

Reuters: U.S. gasoline prices fall below $4 for first time since March

The Washington Post: Gas prices fall below $4 a gallon the lowest point since March

The Wall Street Journal: Gas Prices Fall Below $4 a Gallon for First Time Since March

Financial Times: US petrol prices fall below $4 a gallon in sign of lower inflation

Axios: Gas prices drop under $4 a gallon

ABC News: Gas prices fall below $4 for 1st time since March

CBS News: Gas prices drop below $4 a gallon for first time since early March

NBC News: U.S. gas prices fall below $4 for the first time in months

CNN: Gas prices tumble below $4 for the first time in months

Yahoo Finance: Gas prices in U.S. fall below $4 per gallon average for first time since March

CNBC: Gas prices are falling -- Here's why it's happening and whether it can continue

Television Coverage

CBS:

CBS Mornings [8/11/22]

GAYLE KING: Drivers could see more relief at the pump after the national average for gas fell below $4 this morning. According to AAA, the national average for regular is $3.99 a gallon. That is down almost 70 cents from a month ago and more than $1 lower than the all-time high of just over $5. Did you get all that? That we hit back in June. [8/11/22]

NBC:

NBC Today [8/11/22]

SAVANNNAH GUTHRIE: We are going to start with that welcome relief. Gas prices are falling, the national average has dropped below $4 a gallon for the first time in months, and there are some tiny glimmers of hope that record inflation might be easing slightly. Perhaps, we've turned a corner. NBC's Tom Costello is tracking it all. Tom, good morning.

TOM COSTELLO: Good morning, we emphasize slightly. You're right on the gas prices. We're at $3.99 a gallon right now. That is down from $5.01 a gallon in June, so we've seen many weeks now of gas prices declining.

CNN:

New Day [8/11/22]

JOHN BERMAN: Good morning, everyone. There is breaking news this morning. This is the kind you are going to want to hear. I'm John Berman with Brianna Keilar, and here is the news this morning. Gas prices dropped below $4 a gallon for the first time since March.

BRIANNA KEILAR: The national average has fallen for 58 days straight since hitting a record high of more than $5 a gallon in June. So let's bring in CNN Chief Business correspondent and "Early Start" anchor Christine Romans.

CHRISTINE ROMANS: Hey, guys. You watch those gas prices race higher this spring right and now they are tumbling fast below $4. $3.99 is the AAA national average here, and I can tell you about half the states are now below $4, well below $4, and in the Midwest you are looking at below $3.75 a gallon. Here, look, $5.02 was that high back in March, there was the war in Ukraine, there was the hottest peak of inflation there, but now these things are starting to cool off. Anything can happen ahead, right? We are in the very beginning of a hurricane season, of course, but many of the analysts expect another 10 to 30 cents decline on these gas prices here.

MSNBC

Morning Joe [8/11/22]

MIKA BRZEZINSKI: We have good news for drivers at the pump. Gas prices have fallen for 58 days in a row. AAA is reporting the national average for gasoline is under $4, holding at $3.99 a gallon. Couple the gas prices news with the better than expected numbers in July's inflation report. Is there relief on the horizon?

CNBC

CNBC Squawk Box [8/11/22]

ANDREW ROSS SORKIN: We've got some good news around energy prices. Gasoline prices have fallen for nearly 60 straight days. Now, the nationwide average is back below $4 a gallon for the first time since March.