US Gas at the Pump Falls Below $4 as Iran Pressure Eases (2)

US gasoline prices dipped below $4 a gallon for the first time since March, providing welcome relief to consumers after a historic global supply disruption sent fuel costs soaring for months.

National regular unleaded gasoline averaged $3.999 on Thursday, according to the American Automobile Association. The swing down in prices comes as the US and Iran signed an interim deal to end the war and reopen the Strait of Hormuz.

“From the narrow perspective of gasoline retail prices, this is a ‘win,’ albeit only relative to the high prices that were created by this conflict in the first place,” ...