US Gasoline Prices Dip Below Four Dollars Following Diplomatic Breakthrough with Iran Agreement

Gasoline prices in the US have fallen below $4 per gallon following a new peace agreement between the US and Iran.This deal facilitates the reopening of the Strait of Hormuz, a vital shipping lane that controls roughly 20% of the global oil supply.Despite this recent decline from May peaks, experts warn that fuel costs will remain significantly higher than pre-war levels due to low inventory and infrastructure damage.