Gasoline prices to fall after Iran ceasefire deal - Independent
Kyiv • UNN
Experts predict a 45-cent per gallon drop in fuel costs within two weeks. Oil has already fallen below $100 following the Middle East ceasefire agreement.
After the US announced a two-week ceasefire agreement with Iran, industry experts predict that gasoline prices may soon begin to fall. This is stated in an Independent article, UNN reports.
Details
It is noted that the war with Iran has led to a sharp increase in fuel prices worldwide, which means that Americans are paying more at gas stations. Thus, the average price of gasoline exceeded $4 per gallon last week for the first time since 2022, and on Wednesday it was $4.16.
According to Patrick De Haan, an oil industry analyst at GasBuddy, under the new ceasefire agreement, prices in the US could fall in a matter of days.
Gasoline prices could start to change nationwide in about 48 hours - by a few cents each day
In turn, Pavel Molchanov, an analyst at the financial company Raymond James, estimates that the fall in oil prices "should reduce the price by $0.45 per gallon at once, which means that the national average will drop to about $3.70."
"We expect this to take at least two weeks," the expert said.
Recall
Crude oil prices fell sharply, dropping below $100 a barrel after US President Donald Trump announced that Washington had agreed to a two-week ceasefire with Iran.