Gas prices fall below $4 for first time in over 5 months after US-Iran agreement to reopen Strait of Hormuz
Americans have spent about $46 billion more on gasoline since the start of the conflict.
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US News Gas prices fall below $4 for first time in over 5 months after US-Iran agreement to reopen Strait of Hormuz By Adam Silverstein Published June 18, 2026, 7:15 a.m. ET See more of our coverage in your search results. Add The New York Post on Google Gas prices across the US have fallen below $4 a gallon for the first time in more than five months. The national average price for regular gasoline dropped to $3.999 per gallon Thursday, according to the American Automobile Association, down nearly 3 cents from the previous day. The drop in gas prices comes as the Strait of Hormuz is set to reopen under a memorandum of understanding between the US and Iran aimed at ending the conflict that disrupted global oil supplies.
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