Gas Prices Slide as Tariff Chaos Leaves Oil Prices Lower

The national average gasoline price dropped 8.2 cents to $3.13 per gallon, marking the first decline in nearly a month, per GasBuddy data. 

Diesel prices also fell, down 4.8 cents to $3.546 per gallon.

The dip follows a sharp oil price retreat driven by U.S. tariff concerns and OPEC+ plans to ramp up production.

However, oil prices rebounded today after Trump announced a 90-day tariff pause on most countries and exemptions for Chinese electronics like smartphones and computers.

The EIA reported a 2.6 million barrel rise in U.S. oil inventories, though gasoline and distillate stocks fell, with refining at 86.7%. States like Oklahoma ($2.67) and Mississippi ($2.69) saw the cheapest gas, while California ($4.82) and Hawaii ($4.47) remained priciest.

This tariff relief could sustain oil’s upward momentum, potentially halting gas price declines if trade optimism fuels demand.

Yet, with refiners wrapping up maintenance and OPEC+ boosting supply, downward pressure on crude may keep pump prices in check for now.