North Texas gas prices drop to $3.15 per gallon as national average dips below $4

DALLAS - For the first time in seven months, the average gas price has fallen below $4.

By the numbers:

The nationwide average price for a gallon of regular gas in the United States is now $3.94. In North Texas, it’s closer to $3.15 per gallon, according to AAA.

Meanwhile, diesel prices are also falling to $5.50 per gallon on average.

Both have dropped nearly $.20 from a week ago.

West Texas Intermediate Crude is trading at about $87 a barrel.

What they're saying:

FOX 4’s Casey Stegall talked to an oil and gas expert about whether prices will continue to fall.

"Right now, what we’re seeing is a little bit of what Wall Street would call certainty. As we’ve discussed in the past, Wall Street is thinking right now this president is going to be ending this conflict with Iran on a daily basis right now. They feel with the tone in America that this president will stop it," said Ray Trevino with Pecos Country Operating. "So, we are seeing a little bit more calm in the market and a little bit more certainty on their end. However, I don’t see this conflict ending anytime soon."

But Trevino warned people not to get their hopes up too much with the Thanksgiving holiday just days away and the busy holiday travel season approaching.

"Right now, our demand that we have only continues to grow. Populations are growing with more people moving to the United States and obviously just our natural increase in population. But during this holiday season, we will see hundreds of thousands of people on the road. And because of that, that's why we will see un uptick in the price of oil over the next couple of weeks as the refineries switch over to the winter blends in preparation," he said.