Gas prices fell on hopes of a peace deal between the U.S. and Iran, though it may take time for shipping in the Strait of Hormuz to return to pre-war levels.

US gas prices fell below $4 per gallon as the Strait of Hormuz reopened under a US-Iran peace deal. Brent crude dropped 11%, and Bitcoin rallied on the

Consumers have paid $59 billion more for gas this year since February 28 than they did in 2025