Gas prices fall below $4 on average after Trump’s signing of Iran deal to end war

The average price of US gasoline fell to just under $4 a gallon on Thursday for the first time since March , following the announcement of a preliminary agreement between the US and Iran to end the war and reopen the strait of Hormuz. The development has provided some relief to drivers who have seen soaring costs amid Washington’s war with Iran . But filling up still remains more expensive than it was before the conflict began. According to the motor club AAA , the current national average price for a gallon of regular gasoline stands at $3.999, marking the first time in months that prices have been that low. The decline aligns with easing crude oil costs overall, with some optimism surrounding the initial agreement between the US and Iran. Still, American drivers are collectively paying roughly $1 more per gallon than they were before the US joined Israel to attack Iran in February. Gas prices are also about 25% higher than they were a year ago, which has put strain on many household budgets across the country. Gas isn’t the only thing that has become more expensive over the course of the war. Higher gasoline prices have also contributed to rising airline fares, while consumer goods such as groceries, and shoes have also gone up in cost amid global supply chain disruptions. Even if oil and other core necessities – such as fertilizer – begin flowing from the Middle East again, experts warn that the sticker shock is likely to outlast the fighting . …