Gas just touched $4.36 a gallon nationally. That’s the highest reading ever recorded for this point in the fall. And it’s already bending used truck prices downward. If you’ve been eyeing a pickup, that combination of pain-at-the-pump and softening values is worth paying attention to right now.
Regular gasoline averaged $4.36 per gallon on October 8, 2026. That’s up more than 45% from where it sat when the war between the U.S. and Israel broke out against Iran in late February. Diesel is even worse, hovering around $6.32 a gallon nationally. That’s a jump of nearly 72% year over year. It’s a brutal number if you’re shopping for anything with a diesel badge on the tailgate.
Are used truck prices actually falling because of gas?
Yes. Wholesale data shows pickups and SUVs are among the only segments still losing value year over year, even as the overall used market cools. Cox Automotive’s Manheim index shows gains for EVs and compact cars were more than offset by declines in midsize cars, pickups, and SUVs.
GM’s own North America president said the quiet part out loud back in June. Demand for full-size trucks and other thirsty vehicles is softening. Drivers are reacting to fuel costs faster than the company expected. That shift in demand is exactly what shows up later as lower prices on used lots.
How much does $4.36 gas actually cost a truck owner?
The gap between a thrifty truck and a thirsty one is no longer a rounding error. It’s thousands of dollars a year. Run the math on 12,000 miles of driving. The difference between a hybrid compact truck and an older full-size gas V8 is roughly $2,000 annually.
| Truck Type | Combined MPG | Annual Fuel Cost at $4.36/gal* |
|---|---|---|
| Older full-size V8 (15 mpg) | 15 | $3,488 |
| Chevy Silverado / GMC Sierra 1500 | 23 | $2,275 |
| Toyota Tacoma / Ford Ranger | 23 | $2,275 |
| Ford Maverick Hybrid | 37 | $1,414 |
*Based on 12,000 miles/year and EPA combined fuel economy ratings.
That’s why the Ford Maverick Hybrid keeps showing up as the used-truck darling right now. Its EPA-estimated 37 mpg combined blows away anything else wearing a bed and a tailgate. If your truck duty is mostly commuting and the occasional Home Depot run, that fuel savings adds up fast. It can offset a higher purchase price within a couple of years.
So should you buy a used truck right now?
If you genuinely need a truck for towing, hauling, or work, yes. Buy now while prices are soft. Do it before any pump-price relief brings truck shoppers flooding back. If you don’t truly need the capability, this is a good moment to cross-shop a hybrid instead.
Sellers are more negotiable right now than they’ve been in months. Fewer buyers want to commit to a vehicle that costs $3,000-plus a year just in fuel. That’s leverage you should use. Ask about recent price cuts. Don’t be shy about countering. Dealers already know demand for big trucks has cooled.
Diesel buyers need to think harder. Diesel sits near $6.32 a gallon. That shrinks the fuel savings that normally justify the diesel upfront cost. We broke down that exact math in our look at whether the Duramax diesel is worth $3,000 more on the new Silverado. The logic applies just as hard to used trucks.
Is a hybrid or EV a smarter move than a gas truck this year?
For a lot of buyers, yes. Sustained $4-plus gas is exactly the scenario that makes electrified vehicles pencil out faster. We’ve already seen this play out at the dealership level. That’s why we covered what $4.40 gas means for the EV comeback in detail.
If you’re torn between sticking with gas or going electric for your next vehicle, check our full decision framework on buying an EV in 2026. It walks through the real math on charging costs, range, and total ownership cost. That’s worth fifteen minutes before you sign anything.
Truck shoppers waiting on an electric alternative should also know the timeline keeps slipping. We covered how the Ram electric truck delay affects anyone hoping to skip gas entirely in the near term.
What’s the bottom line?
Buy used, buy now, and buy smart about fuel economy. Used truck prices are softening precisely because other buyers are getting priced out at the pump. That’s a rare moment where patience and a calculator actually pay off. Skip the old full-size gas guzzler if you can. Lean toward a Maverick Hybrid, a smaller gas four-cylinder, or a diesel only if your mileage justifies it.
FAQ
Will gas prices keep going up through the rest of 2026?
Nobody can say for certain. Prices have already pulled back from the May peak of $4.48. They remain volatile due to ongoing geopolitical tensions. Expect continued swings rather than a steady climb or steady drop.
Do used truck prices usually drop in the fall anyway?
Yes. Fall and winter are traditionally the softest season for used vehicle pricing as dealers clear lots before year-end. This year’s gas-price spike is compounding that normal seasonal dip. That’s making the discounts larger than usual.
Is a diesel truck still worth buying with gas this high?
Only if you’re logging serious miles or towing heavy loads regularly. Diesel itself costs nearly $6.32 a gallon right now. For average commuting and light hauling, a gas or hybrid truck will save you money overall.
Should I wait for prices to drop further before buying?
If you need a truck now, don’t wait indefinitely. Any relief at the pump could send buyers rushing back. That could reverse this pricing trend quickly. Shop now while sellers are motivated and negotiate hard.