Gasoline prices in US drop below $4
Gasoline prices in the United States have fallen below $4 per gallon for the first time since mid-April. This decline is attributed to optimism about the impending reopening of the Strait of Hormuz following the signing of a Memorandum of Understanding between the United States and Iran to end the four-month-long war. It is believed that the decrease in fuel prices may give a boost to the policies of the Trump administration, especially with the midterm elections approaching. However, experts see the impact of this agreement as likely to be long-term, given the slow recovery of oil markets and the challenges of passing through the strait, with Brent crude dropping below $83 and domestic gasoline at $4.065 per gallon.
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