Oil prices plummeted in the hours after the United States and Iran agreed to a provisional peace deal that would open up the Strait of Hormuz – welcome news for U.S. consumers who’ve endured soaring gas prices since the war started on February 28.
Gas prices should tick down because of it, GasBuddy Head Petroleum Analyst Patrick DeHaan said in a post on X Monday, and consumers might be in for big savings at the pump by next month.