{"id":2203,"date":"2026-06-17T19:10:12","date_gmt":"2026-06-17T19:10:12","guid":{"rendered":"https:\/\/homebuyerrelocation.com\/?p=2203"},"modified":"2026-06-17T19:10:12","modified_gmt":"2026-06-17T19:10:12","slug":"gas-prices-fall-in-anticipation-of-u-s-iran-deal","status":"publish","type":"post","link":"https:\/\/homebuyerrelocation.com\/?p=2203","title":{"rendered":"Gas prices fall in anticipation of U.S.-Iran deal"},"content":{"rendered":"
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Gas prices have dipped following the announcement of a peace pact to end the war in Iran and reopen the Strait of Hormuz.<\/p>\n

Read more Federal Reserve keeps rates steady, despite Trump\u2019s new chairman<\/a><\/p>\n

Consumers will find some relief when filling up a tank of gas, as prices at the pump are beginning to come down since the U.S.-Israel joint strikes against Iran began Feb. 28, when the national average price for a gallon of regular gasoline in the U.S. was $2.98.<\/p>\n

That average has been falling for three straight weeks, according to the AAA motor club, and stands at $4.03.<\/p>\n

But prices remain at four-year highs.<\/p>\n

The most expensive week for gas in 2026 was May 21, when the national average hit $4.56, with AAA projecting record travel numbers for Memorial Day weekend.<\/p>\n

Oil prices nonetheless remained near three-month lows, as markets priced in the likelihood of a deal and the supply relief it would bring.<\/p>\n

Brent crude, the global benchmark, rose more than 1% to nearly $80 per barrel on Wednesday after President Trump prompted uncertainty over signing a ceasefire deal to end the largest oil supply disruption in history.<\/p>\n

He said the text of the memorandum of understanding may not be final, and \u201cif I don\u2019t like it, if they don\u2019t behave, we\u2019ll go right back to dropping bombs right smack in the middle of their head because they misbehaved for 47 years.\u201d<\/p>\n

Read more Senate confirmation hearing for DNI nominee Clayton postponed as Trump seeks to squeeze Democrats<\/a><\/p>\n

Wednesday\u2019s dollar amount is a stark change from April, when crude oil prices dipped below $100 for the first time amid negotiations to reopen the strait, the vital waterway through which 20% of the world\u2019s oil and gas is shipped. Brent had peaked at roughly $140 a barrel during the conflict \u2014 nearly double the $72 on Feb. 27, the day before the initial strikes began.<\/p>\n

Wednesday\u2019s price of around $80 marks a significant retreat from that peak, though it remains well above prewar levels.<\/p>\n

The global oil market is on track for a massive supply surplus in 2027 after the strait is reopened and the U.S. lifts its naval blockade of Iran.<\/p>\n

The International Energy Agency, which \u2060advises industrialized countries on energy, projected global oil supplies could rise by 8 million barrels a day, heavily outpacing a modest demand growth of just 2 million barrels a day.<\/p>\n

The agency estimates that the war blocked more than 14 million barrels per day of Middle East oil output.<\/p>\n

\u201cIf the deal holds, exports and production from the Gulf should see a gradual recovery \u2014 not least because Iranian oil exports can fully resume once the U.S. blockade is lifted,\u201d the agency said in its monthly oil market report Wednesday.<\/p>\n

Read more MLB \u2018must answer\u2019 for warning after Giants pitchers\u2019 Pride Night message: Sen. Hawley<\/a><\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Gas prices have dipped following the announcement of a peace pact to end the war in Iran and reopen the Strait of Hormuz.<\/p>\n","protected":false},"author":1,"featured_media":2202,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[17,96],"class_list":["post-2203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-iran","tag-strait-of-hormuz"],"yoast_head":"\nGas prices fall in anticipation of U.S.-Iran deal - Home Buyer Relocation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/homebuyerrelocation.com\/?p=2203\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gas prices fall in anticipation of U.S.-Iran deal - Home Buyer Relocation\" \/>\n<meta property=\"og:description\" content=\"Gas prices have dipped following the announcement of a peace pact to end the war in Iran and reopen the Strait of Hormuz.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/homebuyerrelocation.com\/?p=2203\" \/>\n<meta property=\"og:site_name\" content=\"Home Buyer Relocation\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-17T19:10:12+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/homebuyerrelocation.com\\\/#\\\/schema\\\/person\\\/b2ac56955b020950324cad4c6c27b42a\"},\"headline\":\"Gas prices fall in anticipation of U.S.-Iran deal\",\"datePublished\":\"2026-06-17T19:10:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203\"},\"wordCount\":476,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/homebuyerrelocation.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/f8664672ca977b66ef73e10f6a535b34.webp\",\"keywords\":[\"Iran\",\"Strait of Hormuz\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203\",\"url\":\"https:\\\/\\\/homebuyerrelocation.com\\\/?p=2203\",\"name\":\"Gas prices fall in anticipation of U.S.-Iran deal - 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