US petrol prices are heading below $4 a gallon following an agreement between Tehran and Washington to reopen the Strait of Hormuz that could ease pressure on Americans squeezed by a cost-of-living crisis.
The national average price of gasoline has fallen more than nine cents over the past week and stands at $3.99 a gallon, according to GasBuddy, which tracks pricing data from gasoline stations.
It has dropped more than 52 cents from a month ago when surging oil prices linked to the Iran war sent inflation to a three-year high and helped push President Donald Trump’s approval ratings near-record lows.
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