After reaching dizzying heights last month, we are starting to see light relief at the gas pump.

The big picture: High gasoline prices have been a major driver of inflation that has hurt Americans’ pockets, reports Axios’ Felix Salmon.

The average price of a gallon of gasoline in North Carolina was $4.17 on Monday, according to AAA, down 9.9% from $4.63 a month ago.

• The national average on Monday was $4.52 a gallon.

Yes, but: A gallon of gasoline still costs $1.27 more than last year.

Driving the trend: Oil inventories have risen steadily “in part because of the government’s continued releases of oil from its strategic petroleum reserves and reduced consumption,” The New York Times reported.

• But gas prices remain in a fragile state, and the downward trend “could easily reverse, especially if a hurricane knocks out a refinery on the Gulf Coast, as global oil supplies remain quite tight.”

Be smart: If you like hunting, some gas stations in the Triangle already offer gas for less than $4 a gallon, per GasBuddy.