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US gas prices may have reached their peak. In a new report released by the Automobile Association of America (AAA), oil prices have declined for the eighth straight day, falling to level last seen nearly two months ago.

On Friday, the average retail price for gasoline fell to nearly $4.00 a gallon down from its all time high of $4.11 a gallon on July 17th. Despite the recent declines at the pump, prices still remain more than $1 higher than this time last year.

Oil prices have exploded by nearly 70% since last year. Recent declines in consumer demand have pushed crude prices down and bringing some stability to the market.

If oil prices remain steady, the organization says that they expect pump prices to fall below $4 this weekend and could see the price fall by another 25 cents before Labor Day (September 1).