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.

Continuer la lecture de l'article original