US fuel prices expected to stabilize after US-Iran agreement

A preliminary deal to end the US-Israel conflict with Iran has led to a significant drop in oil prices, reaching a three-month low as markets anticipate the reopening of the Strait of Hormuz. Despite this, experts warn that American consumers may not see substantial relief at the pump for months, with current petrol prices averaging $4.06 per gallon. Supply chain issues and a slow recovery in oil production are expected to delay any significant price reductions, possibly until late 2027.

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