Across the country, pump prices have fallen daily by a penny or two for more than two weeks, sliding to levels last seen in late April when oil prices briefly eased. While both Brent crude and West Texas Intermediate ended last week slightly higher when trading stopped on Friday, each benchmark is down about 10% over the past two weeks.
Even with the recent drop in prices, petroleum markets remain unsettled as negotiations to end the war continue. Concerns are increasing about tightening oil and gas supplies around the world as vessel traffic through the critical Strait of Hormuz remains severely constricted. Additionally, renewed attacks across the region over the weekend have added to the uncertainty.
Domestically, crude oil inventories fell by a sizable 16 million barrels last week, according to the Energy Information Administration (EIA). U.S. crude inventories are now at the lowest levels since mid-February and about 3% below the five-year average. While refiners operate at high levels heading into the busy summer driving season, foreign demand for American crude continues to soar. Last week, oil exports surged by 1.4 million barrels a day to 5.87 million barrels a day, according to the EIA. That’s the highest level since late April and nearly 2 million barrels a day higher than the comparable week last year.
Gasoline inventories, on the other hand, rose by 3.4 million barrels last week to snap a 15-week streak of declines, according to EIA data. While an increase in supply can help push prices lower, gasoline stockpiles are still considered tight for the season and sit 5% below the five-year average. The rise in inventories came as post-Memorial Day gasoline demand took a step back last week, falling by 662,000 barrels a day to average 8.59 million barrels a day. The figure marked the lowest weekly reading since early April.
“Consumers have benefitted from falling pump prices over the past two weeks, but volatility and vulnerability remain at the forefront of oil and gas markets,” said Jillian Young, director of public relations for AAA Northeast. “Even with the recent drop in retail gas prices, Northeast drivers are still paying well over $1 more a gallon than they were a year ago.”
AAA’s June 8 survey of fuel prices found the current national average down 16 cents from the previous week ($4.32), averaging $4.16 per gallon. The June 8 national average price was 38 cents lower than a month before ($4.54) and $1.04 higher than the previous year ($3.12).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Connecticut | $4.37 | $4.51 | $4.62 | $3.08 |
| Massachusetts | $4.29 | $4.39 | $4.46 | $2.99 |
| New Jersey | $4.24 | $4.38 | $4.54 | $2.98 |
| New York | $4.44 | $4.53 | $4.58 | $3.10 |
| Rhode Island | $4.18 | $4.30 | $4.49 | $2.97 |
*Prices as of June 8, 2026
As of June 8, Indiana and Texas had the lowest prices in the nation at $3.43 and $3.62, respectively. California and Washington had the highest prices in the nation at $5.89 and $5.62, respectively.
The AAA Gas Prices website is your resource for up-to-date fuel price information. Search for average gas prices on national, state and metro levels by regular, plus, premium and diesel.
Last updated on June 17, 2026 by AAA Staff
Based in Rhode Island, Jillian Young is AAA Northeast’s director of public relations. She regularly appears in local TV, radio and print media to discuss traffic safety, travel, insurance and more.
