U.S. average gasoline price could fall below $4 a gallon as soon as today

The average U.S. gasoline price could fall below $4 a gallon as soon as today, CBS reported. If it does, it would mark the first drop below $4 since July. According to the American Automobile Association, the national average price for regular gasoline stood at $4.0093 a gallon as of yesterday, down more than 36 cents from a month earlier and 16 cents from a week earlier. Diesel prices fell by only about 10 cents over the past month, a smaller decline than gasoline, and remained about $2.44 a gallon higher than a year earlier. Still, prices have retreated from the record high reached on Sept. 22. In the U.S., gasoline prices typically decline in the fall and winter as supply shifts to the cheaper "winter blend" and overall driving demand eases. Refinery maintenance is also nearing an end, with refinery runs and output expected to rise and market supply likely to increase.