The average price of a gallon of gasoline in the United States has dropped below $4 for the first time in over two months, according to N12 report by journalist Assaf Rosenzweig on Thursday. The decline follows the signing of the US-Iran memorandum of understanding.
The average retail price of a gallon of gasoline in the United States fell below $4 on Thursday for the first time in more than two months, N12 reported. The decline, cited by journalist Assaf Rosenzweig, comes after the signing of the U.S.-Iran memorandum of understanding, which has driven a sustained drop in global crude oil prices. As The Zioneer has reported over the past week, the U.S. crude benchmark fell 5% on Tuesday, and Brent crude eased below $83 per barrel on Monday amid growing hopes for the diplomatic breakthrough. The broader market rally — with Asian stocks surging and the dollar strengthening — reflects investor expectations that Tehran's return to oil markets will ease supply constraints. The sub-$4 gallon price, a widely watched consumer indicator, reverses a two-month stretch of elevated fuel costs.
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