U.S. Gas Prices Slip Below $4 as Trump Signs 60-Day Iran Deal

3 articles · Updated · The Associated Press · Jun 18

$3.999 a gallon became the U.S. average on Thursday, the first drop below $4 since March after an overnight decline.
Trump's agreement with Iran waives U.S.-backed sanctions, requires Tehran to dilute highly enriched uranium and starts a 60-day clock for a final nuclear deal.
Oil helped drive the move: U.S. crude has tumbled 14% this month to about $80 a barrel, down from more than $120 during the conflict but still above the $67 seen before the war.
Relief will be uneven and slow, with California averaging $5.64 versus $3.58 in South Carolina and cheaper crude taking weeks or months to filter through refineries and the Strait of Hormuz.
Even with pump prices easing, gasoline remains 25% above a year ago and wider supply-chain disruptions in fuel, fertilizer, food and footwear are expected to keep costs elevated.