America Gasoline Drops Below $4 After Iran Deal
The average price of gasoline in the United States has fallen below $4 per gallon for the first time in months, following a preliminary agreement between the U.S. and Iran to cease hostilities for 60 days and reopen the Strait of Hormuz. This development alleviated pressure on oil and its derivatives prices. The price per gallon dropped to $3.999, with some regions in the U.S. recording prices below $4, although prices remain high on the West Coast. This decline was accompanied by a calming of oil prices, which have decreased by about 10% this week after reaching nearly $120 per barrel amid escalating tensions in recent months.
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