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Travelers are finally seeing relief at the pump. The national average price of gasoline dropped to $3.79 per gallon, according to AAA, compared with $4.17 a month ago. Current diesel prices are $4.77.
It's "good news for motorists," said Patrick De Haan, head of petroleum ****** ysis at GasBuddy, in a post on X.com. He said gas prices "should head toward $3.70/gal now that a deal with Iran has been signed – and seeing movements resume in the Strait [of Hormuz]."
De Haan noted in weekly commentary that broader price volatility is likely to persist as oil reacts to developments between the U.S. and Iran and their wider implications for global energy supplies.
Lower prices at the pump could bring some relief for consumers after May's consumer price index rose 4.2% from a year earlier. Energy costs accounted for more than 60% of the increase from April, with energy prices rising 3.9%. June CPI data is due July 14.
Travelers are finally seeing relief at the pump. The national average price of gasoline dropped to $3.79 per gallon, according to AAA, compared with $4.17 a month ago. Current diesel prices are $4.77.
It's "good news for motorists," said Patrick De Haan, head of petroleum ****** ysis at GasBuddy, in a post on X.com. He said gas prices "should head toward $3.70/gal now that a deal with Iran has been signed – and seeing movements resume in the Strait [of Hormuz]."
De Haan noted in weekly commentary that broader price volatility is likely to persist as oil reacts to developments between the U.S. and Iran and their wider implications for global energy supplies.
Lower prices at the pump could bring some relief for consumers after May's consumer price index rose 4.2% from a year earlier. Energy costs accounted for more than 60% of the increase from April, with energy prices rising 3.9%. June CPI data is due July 14.
24 days ago
