The average price of gas fell 17 cents since its peak earlier this month, but it’s still 47% higher than it was at the start of the Iran war.

Oil prices plunged Wednesday on rekindled hopes for progress in US-Iran talks aimed at ending the war in the Middle East.

Brent dropped toward $92 a barrel, down 19% this month, while West Texas Intermediate was below $88.

Commodity poised for one of biggest monthly declines, while global stock markets rally

By Isabel Wang and Myra P. Saefong