Gasoline prices in US dip below $4
The average gasoline price in the United States has fallen below four dollars per gallon for the first time since mid-April, amid optimism about the potential reopening of the Strait of Hormuz following the signing of a memorandum of understanding between Washington and Tehran to end the war that began four months ago. However, uncertainty remains about the sustainability of the agreement, and the gasoline price is still 90.8 cents higher than the same period last year. The price increase in March was linked to restrictions on shipping through the Strait of Hormuz, which accounts for about one-fifth of global oil flows.
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