# The Biggest Weekly Gas Price Drop in Months Arrives, With a Warning That It May Not Last

> The US national average gasoline price fell 17.1 cents in the past week to $4.12 per gallon, and diesel fell 5.9 cents to $6.281. Oil dropped nearly $2 on Sunday trading, with WTI at $102.15 and Brent at $111.52, as hopes for Iran-Qatar talks eased fears of renewed US strikes. Analysts warn that volatility could return after the election, depending on the Strait of Hormuz situation.

- Date: 2026-11-02 · published 2026-11-02T21:09:48.780Z
- Category: geopolitics · region US · magnitude medium
- Page: https://feedsoft.ai/events/75859-the-biggest-weekly-gas-price-drop-in-months-arrives-with-a-warning-that-it-may
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Lower crude and diesel prices ease freight and farm fuel costs for feed buyers, but the price path depends on the Hormuz conflict and could reverse quickly.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +4.6% | -23.5% |
| WTI | 2020-03-16 | [Chart of the Month \| A Price War Erupts in the Oil Market](https://feedsoft.ai/events/7664-chart-of-the-month-a-price-war-erupts-in-the-oil-market.md) | -35.6% | -29.5% |
| WTI | 2018-07-11 | [Brent crude suffers biggest price drop in two years](https://feedsoft.ai/events/10093-brent-crude-suffers-biggest-price-drop-in-two-years.md) | -8.2% | -6.7% |
| WTI | 2026-05-29 | [Oil records biggest one-month drop in 6 years](https://feedsoft.ai/events/12488-oil-records-biggest-one-month-drop-in-6-years.md) | +4.6% | -23.5% |
| WTI | 2020-03-13 | [Crude posts biggest weekly losses since 2008, hit by coronavirus and Saudi price war](https://feedsoft.ai/events/4423-crude-posts-biggest-weekly-losses-since-2008-hit-by-coronavirus-and-saudi-price.md) | -20.3% | -27.5% |
| BRENT | 2026-05-29 | [Brent oil price in May posts biggest monthly loss since 2020](https://feedsoft.ai/events/12487-brent-oil-price-in-may-posts-biggest-monthly-loss-since-2020.md) | +2.5% | -21.2% |
| BRENT | 2020-03-16 | [Chart of the Month \| A Price War Erupts in the Oil Market](https://feedsoft.ai/events/7664-chart-of-the-month-a-price-war-erupts-in-the-oil-market.md) | -20.5% | -23.3% |
| BRENT | 2018-07-11 | [Brent crude suffers biggest price drop in two years](https://feedsoft.ai/events/10093-brent-crude-suffers-biggest-price-drop-in-two-years.md) | -8.7% | -6.2% |

## Sources

- gasbuddy.com: https://www.gasbuddy.com/go/the-biggest-weekly-gas-price-drop-in-months-arrives-with-a-warning-that-it-may-not-last

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.