Oil prices fell about 10% by the close of markets on April 17 after Iran announced it would reopen the Strait of Hormuz to tanker traffic. Amid the possibility of renewed peace talks, West Texas Intermediate dipped below $90 a barrel on expectations that oil could flow freely through the critical shipping channel for the first time in more than seven weeks. But renewed escalation in the conflict then sent crude prices climbing by about 5% in weekend trading.
Domestically, inventories of both crude oil and gasoline are tightening due to healthy demand and record exports of American oil and gas. U.S. gasoline stockpiles fell by 6.3 million barrels last week — the ninth straight week of declines — as demand increased to a seasonally strong 9.09 million barrels a day, according to the Energy Information Administration (EIA). Meanwhile, total exports of oil, diesel and gasoline jumped by 1.03 million barrels a day, the EIA reported, settling at 12.75 million barrels a day. That figure broke the previous record set in 1991 by 580,000 barrels as countries around the world impacted by reduced oil and gas exports from the Persian Gulf turned to the U.S. to address product shortfalls.
“While recent declines in pump prices might be encouraging to see, significant uncertainty will loom over petroleum markets for the duration of the conflict in the Middle East,” said Jillian Young, director of public relations for AAA Northeast. “Despite higher gas prices, Americans don’t appear to be driving less; demand has been trending above year-ago levels since the war began.”
AAA’s April 20 survey of fuel prices found the national average down 8 cents from last week ($4.12), averaging $4.04 per gallon. The April 20 national average price was 13 cents higher than a month ago ($3.91) and 89 cents higher than last year ($3.15).
| Region | Current Price* | One Week Ago | One Month Ago | One Year Ago |
| Connecticut | $4.04 | $4.08 | $3.76 | $3.04 |
| Massachusetts | $3.95 | $3.96 | $3.65 | $2.95 |
| New Jersey | $3.94 | $4.03 | $3.82 | $2.97 |
| New York | $4.10 | $4.12 | $3.77 | $3.09 |
| Rhode Island | $3.94 | $3.98 | $3.67 | $2.94 |
*Prices as of April 20, 2026
As of April 20, Oklahoma and Kansas had the lowest prices in the nation at $3.37 and $3.47, respectively. California and Hawaii had the highest prices in the nation at $5.83 and $5.67, 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 April 22, 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.
