Gas prices dip below $4 for first time since early March

Gasoline prices dipped to just under the $4 mark for the first time in more than five months - good news for consumers who are struggling with high prices for many other essentials.

AAA said the national average for a gallon of regular was $3.99 on Thursday.

The shopping app GasBuddy reported that the national average was already down to $3.98 on Wednesday.

The nationwide average for gas hasn't been under $4 since early March.

Prices topped out at $5.02 a gallon on June 14, according to AAA.

They declined slowly the rest of June, then began dropping more rapidly.

benchmark crude oil has recently dipped close to $90 a barrel from over $120 a barrel in June.

Republicans blame President Biden for the high gasoline prices, seizing on his decisions to cancel a permit for a major pipeline and suspend new oil and gas leases on federal lands.

Biden said over the weekend that a family with two cars is saving $100 a month because prices have dropped from their peak in mid-June.

"Exxon made more money than God this year," he said in June.