Pump prices will likely remain higher than pre-war levels for some time.

As of Monday morning, the average price of a gallon of gas in the US was $4.06, down from over $4.50 at the peak of the US-Iran war.

US-Iran peace deal reopens Strait of Hormuz, pushing crude oil prices down and setting expectations for lower gas prices. Bitcoin also rallies toward $74K.

Americans have collectively spent about $46 billion more on gasoline since the start of the war