Gas prices fall below $4 per gallon as oil supply fears ease after Iran deal
The national average gas price has fallen for five straight weeks to $3.91 per gallon. Crude oil prices continue to decline as the U.S. and Iran pursue a long-term agreement. High demand is expected for Independence Day travel.
What changed
The national average has now remained below $4 per gallon for two consecutive weeks.
Live updates
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National Gas Average Drops to $3.91 Amid U.S.-Iran Deal
confidence 90%The national average gas price has fallen for five straight weeks to $3.91 per gallon. Crude oil prices continue to decline as the U.S. and Iran pursue a long-term agreement. High demand is expected for Independence Day travel.
What's confirmed:
- The national average gas price is $3.91 per gallon.
- Gas prices have declined for five consecutive weeks.
- The national average cost of electricity at public EV charging stations is 41 cents per kilowatt hour.
- 85% of travelers plan to drive to their destinations for Independence Day weekend.
Still unconfirmed:
- Gas prices have not been below $4 since March 30.
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US Gas Prices Drop Below $4 Following US-Iran Deal
confidence 90%The national average for regular gasoline fell below $4 per gallon for the first time in months. This decline follows a deal between the US and Iran to reopen the Strait of Hormuz. Prices have fallen in 47 states as oil markets react to the news.
What's confirmed:
- The national average price of regular gasoline fell below $4 a gallon.
- AAA reported the national average price slipped to $3.999 on June 18.
- Gasoline prices fell in 47 states.
- A deal between the United States and Iran to reopen the Strait of Hormuz contributed to lower crude oil prices.
Still unconfirmed:
- Commercial inventories will grow next year leading to an oil glut.
- Global oil prices have fallen to their lowest level since before the Iran War.
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US Gas Prices Drop Below $4 Per Gallon Following Iran Deal
confidence 90%National average gasoline prices fell below $4 per gallon on Thursday. The decline follows a deal signed by President Donald Trump and reports of progress in ending fighting in Lebanon. Some experts suggest full relief may take years.
What's confirmed:
- US gasoline prices fell below $4 per gallon on Thursday.
- The price drop occurred after President Donald Trump signed a deal with Iran.
Still unconfirmed:
- Oil prices retreated after Iran's foreign minister cited major progress toward ending fighting in Lebanon.
- Gas prices remain about a third higher than they were before the war with Iran.
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U.S. Gas Prices Drop Below $4 Following Iran Deal
confidence 100%National average gas prices have fallen below $4 per gallon for the first time since March. The decline follows a U.S.-Iran agreement to end hostilities and reopen the Strait of Hormuz. Drivers are seeing relief at the pump as supply fears ease.
What's confirmed:
- The national average for a gallon of gas is below $4 for the first time since March.
- The United States and Iran signed an agreement to reopen the Strait of Hormuz.
Still unconfirmed:
- Gas prices may not dip below the pre-war $3 mark until 2027 due to low inventory levels.
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U.S. Gas Prices Drop Below $4 Following Iran Deal
confidence 95%National average gas prices have fallen below $4 per gallon for the first time since March. The decline follows a U.S.-Iran agreement to end hostilities and reopen the Strait of Hormuz. Prices decreased 9.3 cents over the last week.
What's confirmed:
- The average U.S. price for a gallon of gas fell below $4.
- The price drop occurred for the first time since March.
- U.S. and Iranian officials reached an agreement to reopen the Strait of Hormuz.
- Gas prices fell 9.3 cents over the past week according to GasBuddy.com.
Still unconfirmed:
- Gasoline prices could fall below $3 by the end of the year.
- Gas prices are 30% higher than they were before the Feb. 28 U.S. and Israel attack on Iran.
- Prices are overall a dollar more per gallon than before the U.S.-Israel attack on Iran.