US gasoline prices dip below $4 as Iran peace deal advances
Gasoline prices fell to just under $4 per gallon amid a deal to end the Iran conflict that had closed the Strait of Hormuz.
Gasoline prices in the United States fell to just under $4 per gallon on Thursday (gdelt). The price level is about 34% higher than it was when the month‑long conflict with Iran began (gdelt). The conflict had effectively closed the Strait of Hormuz, a shipping lane that carries roughly a quarter of global energy supplies (gdelt).
Prices began to fall as the United States and Iran moved toward signing a deal to end the conflict (gdelt). US gasoline prices are falling after the Iran peace deal (hindustantimes). The agreement is expected to reopen the Strait of Hormuz (citizen-times.com).
President Donald Trump posted on June 14 that “The Deal with the Islamic Republic of Iran is now complete” (citizen-times.com). An official signing ceremony for the US‑Iran deal is planned for June 19 in Switzerland (citizen-times.com). The drop in gasoline prices gave President Donald Trump a political boost (bluesky).
Energy analysts warned that a fragile ceasefire and tightening oil supplies could quickly reverse the gasoline price decline (bluesky).
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