Gas prices fall below $4 a gallon for the first time in nearly 3 months

TL;DR

U.S. gasoline prices dropped below $4 a gallon for the first time in nearly three months, reaching $3.99.
Prices surged due to the war in Iran and have receded as crude oil prices dropped following anticipation of a U.S.-Iran deal.
The preliminary deal reopens the Strait of Hormuz, a vital waterway for oil supply.
More than 10 commercial vessels have traversed the strait since the agreement was signed.
Brent crude sank 1.4% to $78.46 a barrel, and West Texas Intermediate fell 2.2% to $75.10 a barrel.
Experts predict gas prices could continue to decline, potentially falling below $3 a gallon by the end of the year or early 2027.
Iran being allowed to sell oil again could speed up the recovery of global oil inventories.

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