U.S. gas prices fall below $4 for the first time since July

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The national average price of regular gasoline fell below $4 a gallon for the first time since July, reaching $3.9788 on Tuesday, according to AAA . Prices are down about 17 cents from a week ago and nearly 39 cents from a month ago. The decline comes after energy inflation slowed significantly in October. Energy prices increased 0.7% during the month, a far cry from the 5.2% surge seen in September, according to the Bureau of Labor Statistics . The BLS' gasoline index increased 1% over the month, after advancing 9.1% in September. Bespoke Investment Group pointed out that gasoline prices also tend to decline at this time of the year, making part of the recent relief seasonal.