US Gasoline Prices Below $4 a Gallon for First Time Since April

[00:00:00]And gas prices are coming down. The national average fell below four bucks a gallon on Sunday for the first time since mid-April.

[00:00:08]>> That's right. The drop coming as hopes for this possible end of the war in Iran improve the market sentiment.

[00:00:14]>> According to GasBuddy, the average price fell to $3.99 a gallon. The decline comes after President Trump announced that the US and Iran have agreed to that memorandum of understanding, which is aimed at ending the conflict. The president writing on social media that the deal with the Islamic Republic of Iran is now complete.

[00:00:33]>> President Trump also said the Strait of Hormuz would reopen without tolls and that the US blockade on Iran would be lifted. Now, the formal signing ceremony is scheduled for Friday in Switzerland.

[00:00:45]Oil markets also responded with crude prices falling more than $4 per barrel yesterday.