U.S. gas prices are hovering just below $4 a gallon on average Thursday, marking the first time since March that the cost for regular has fallen that low.

SOUTHLAND - (INT) - Plunging oil prices and the possibility of a fully reopened Strait of Hormuz brought the national gas price average below $4 a gallon Thursday and delivered a fourth week of hefty price decreases in Southern California, according to the Auto Club’s Weekend Gas Watch. Today’s statewide average for a gallon of regular gasoline is $5.64, which is 16 cents less than last week but still $1 higher than at this time last year. The national average is $3.99, which is 13 cents lower than last week and 81 cents higher than on this date last year. The average price of self-serve regular gasoline in the Los Angeles–Long Beach area is $5.64 per gallon, and in San Diego, the average price is $5.68. In Riverside, the average price per gallon is $5.47, 20 cents lower than last week and $1.02 higher than a year ago. In Bakersfield, the $5.83 average is nine cents lower than last week and $1.25 higher than one year ago. “Oil prices are trading below $80 a barrel today and gas prices in Southern California have…