Prices for a gallon of gas in Denver now sit around $4.19, offering summer travelers and their wallets much-needed relief.

Following spiking gas prices after the start of the Iran war, the Denver average is now 26 cents lower than a month ago and 42 cents lower than last week, according to GasBuddy, which surveyed more than 844 stations.

Statewide gas prices now range between $3.37 at the lowest and $5.49 at the highest, a gap of $2.12.

The decrease is occurring across the states.

“Average gasoline prices declined in all 50 states over the last week, with GasBuddy now tracking 15 states where the average price of gasoline has fallen below $4 per gallon, offering motorists some of the most widespread relief seen in weeks,” Patrick De Haan, the chief of petroleum analysis at GasBuddy, said in a news release.

De Haan tempered this optimistic news with caution, saying “the coast is anything but clear.”

“Oil prices edged higher Sunday evening as uncertainty surrounding a potential deal persisted and renewed Israeli attacks added another layer of geopolitical risk,” De Hann said. “Overall, any setback in negotiations could quickly reverse the recent decline in fuel prices.”

To gauge where prices are headed for the summer, AAA spokesperson Skyler McKinley told The Denver Gazette that consumers should keep an eye on updates about these negotiations concerning the Strait of Hormuz.

His group also noted that gas prices are down for the week, though tensions at the Strait of Hormuz remain a primary cause for the high national average.

McKinley said that local gas production is sitting where it should be, contributing to the fall in price this week. Also in Colorado’s favor is the natural decline in prices following Memorial Day weekend.

“We’re sitting pretty level with the national average despite being above it for most of this expensive gas period since February,” McKinley said, adding, “That’s not to say they won’t go back up. They probably will.

“Crude oil prices are a moving target based entirely off what traders read in the international headlines. So, news suggestive of an open Strait of Hormuz tend to lower crude oil prices, and news that suggests that a conflict might bear on for a while tend to send prices upward.”

Last year at this time, the Denver average sat around $3.04 per gallon, according to GasBuddy’s data.

McKinley said the issue is twofold — real supply constraints and worries around the Strait of Hormuz, as well as information put out by speculators have put a higher price tag on a full tank.

Increases in fuel prices are expected for this time of year, he noted.

“Prices would be moving up regardless. It’s just that the floor started much higher in February as a function of that conflict,” McKinley said.

McKinley also offered several tips for saving money on gas this summer:

• Take everything out of a car that is not being used, including removing all winter gear

• Drive mindfully, as speeding minimizes fuel efficiency

• Resist the temptation to drive around searching for cheaper gas, as that often means more driving, erasing any potential savings