US gasoline prices dropped below $4 per gallon after the US-Iran deal to reopen the Strait of Hormuz sent oil benchmarks tumbling more than 6%.

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.

"Average gasoline prices fell in 47 states over the last week, with the national average dropping..."

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