There’s recent good news for those filling up their vehicles with regular gasoline or diesel, with lower prices at the pump. One industry expert warns that the low prices likely will not last.

• United States Oil Fund stock is showing upward movement. What’s pushing USO stock higher?

Gas Prices Down For Now

Consumers have come to embrace higher gas prices since the war on Iran began in February. This includes record highs for diesel fuel and billions of dollars more spent on regular gasoline by consumers compared to last year.

The average price of gasoline is down 40 cents over the past week at $4.29 nationally, according to data from GasBuddy.

While that figure is down compared to last week, it is still up from last month and comes in around $.128 more per gallon than this time last year.

Diesel prices also fell over the past week, down around six cents per gallon to $6.248 nationally.

"More states saw average gasoline prices decline than rise over the last week," GasBuddy head of petroleum analysis Patrick De Haan said in a post on social media.

According to GasBuddy data, the states with the cheapest gasoline prices per gallon were Georgia ($3.77), Texas ($3.78) and Ohio ($3.87.) The states with the most expensive gas are California ($6.26), Hawaii ($5.60) and Nevada ($5.39).

For diesel, the states with the lowest prices per gallon were Texas ($5.61), Georgia ($5.73) and South Carolina ($5.74). The states with the most expensive diesel prices per gallon were California ($8.35), Washington ($7.24) and Hawaii ($7.21).

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High Gas Prices Likely Not Over

The short-term decline comes with President Donald Trump proposing a diesel deal with Russia, that De Haan says, "raises more questions than it answers."

With uncertainty from refineries in the path of Hurricane Isaias, increased geopolitical tension and Trump’s new dealmaking, De Haan cautions consumers "don’t get too comfortable."

"For now, the trend is cautiously in the right direction for motorists, but between hurricane season and continued geopolitical uncertainty, it is far too early to declare the pressure on fuel prices resolved."

USO Stock Price Action

The United States Oil Fund (NYSE:USO) closed Monday up 1.91% to $151.03 versus a 52-week trading range of $65.99 to $163.35. The fund is up 6% over the last five trading days and up over 119% year-to-date in 2026.

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