US gasoline prices could fall below $4 per gallon
Business
Good news at the pump: US gasoline prices are on track to drop below $4 per gallon, thanks to falling oil prices.
This comes after Iran reopened the crucial Strait of Hormuz, easing recent supply worries that had sent crude oil soaring above $110 a barrel.
GasBuddy forecasts $3.65 to $3.85/gal
Patrick De Haan from Gasbuddy says we could see gas fall even further, possibly down to $3.65 to $3.85 per gallon if current trends hold.
Wholesale prices are dropping fast, which means retail prices should follow soon (even if they take a little longer to catch up).
Still, full market stability might take time as the Middle East deals with costly repairs and ongoing disruptions, so some price swings may stick around for a bit.