US petrol prices decline amid uncertainties in Iran

US gas prices have decreased to an average of $3.86 per gallon, down from a mid-May peak of $4.48, as President Trump highlights potential relief ahead of US-Iran peace talks amid ongoing tensions in the Strait of Hormuz. Despite this decline, oil prices rose over one percent due to recent attacks, with analysts noting that uncertainty surrounding a durable ceasefire could hinder further price reductions. The US Strategic Petroleum Reserve is at its lowest since the Reagan era, complicating recovery efforts.

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