The reduction of the amplitude of Aharonov-Bohm oscillations in a ballistic one-channel mesoscopic interferometer due to charge fluctuations is investigated. In the arrangement considered the interferometer has four terminals and is coupled to macroscopic metallic side gates. The Aharonov-Bohm oscillation amplitude is calculated as a function of temperature and the strength of coupling between the ring and the side gates. The resulting dephasing rate is linear in temperature in agreement with recent experiments. Our derivation emphasizes the relationship between dephasing, ac-transport, and charge fluctuations.