GasBuddy: Prices Decline But Remain Volatile Amid Geopolitical Issues08/31/2026Prices at the fuel pump have gone down a little recently. GasBuddy's Head of Petroleum Analysis Patrick De Haan explains:"Average gasoline prices fell in slightly more than half of states over the last week while diesel declined in roughly half, as oil prices moved lower and offered some modest relief at the pump. Over the weekend, the Trump administration struck a major deal with Venezuela, a signal that the White House remains concerned about elevated fuel prices — though in reality, any benefits from increased Venezuelan output will take years to fully materialize and are unlikely to move the needle in the near term. The factors with the most immediate impact on where prices go from here remain the ongoing developments between the U.S. and Iran and continued Ukrainian attacks on Russian oil refineries, both of which continue to exert outsized influence on global fuel markets. Motorists should expect continued volatility in the weeks ahead." -Patrick De Haan