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Gas prices fall under $4 as Trump signs deal to reopen Strait of Hormuz
The Washington Post • • general
Key Points:
- The average price of a gallon of gas in the U.S. has dropped below $4 for the first time since March, reaching $3.99 as of Thursday.
- This marks the third consecutive week of declining gas prices following a period of inflation due to the war.
- The price drop follows an initial agreement between the U.S. and Iran aimed at ending the conflict in Iran.
- The memorandum of understanding signed by Presidents Donald Trump and Masoud Pezeshkian includes terms to reopen the Strait of Hormuz to commercial vessels and lift the U.S. blockade of Iranian ports.
- Future details regarding the governance of passage through the Strait of Hormuz remain subject to ongoing negotiations.
