Average selling prices declined benzene Retail in US below $4 per gallon for the first time since mid-April, with growing optimism that the initial agreement with… Iran It will cause it to reopen Strait of Hormuz.
The American President announced Donald Trump Yesterday, Monday, the United States and Iran signed a memorandum of understanding to end the war that broke out about four months ago, but it is still unclear whether the agreement will hold.
It may represent a decline in prices Fuel A relief of sorts for the Trump administration, which promised to lower prices Energy For consumers. Trump and Republican lawmakers, who are seeking to defend the narrow majorities they enjoy in the House and Senate, have faced Midterm elections In November, negative feedback due to the high cost of fuel.
Oil storage tanks at a Sunico LP fuel supply terminal on June 15, 2026 in Austin, Texas (AFP)
The price of $4 per gallon is widely considered a psychological barrier, at which some consumers begin to change their behavior, such as reducing fuel consumption.
According to data from the “Gas Buddy” platform, the average retail price of gasoline in the United States fell to $3.997 per gallon on Sunday, then fell yesterday, Monday, to below four dollars for the first time since mid-April, although prices were still high by 90.8 cents compared to the same period last year.
According to the American Automobile Association, average prices nationwide were $4,065 yesterday.
Gasoline prices exceeded four dollars in late March after Iran prevented the passage of most shipments from the Strait of Hormuz, through which nearly a fifth of global oil flows passed.
