As tensions in Iran ease, gasoline prices in the United States have fallen below $4 per gallon.

The price of gasoline in the United States fell below $4 per gallon for the first time since March, bringing relief to consumers after months of continuous fuel cost increases due to a historic global supply disruption. According to the American Automobile Association, the average price of regular unleaded gasoline in the United States on Thursday was $3.999. Prior to this, the United States and Iran signed a temporary agreement aimed at ending the war and reopening the Strait of Hormuz. Fuel prices at gas stations have dropped from highs of over $4.50 per gallon in May, driven by a decline in global crude oil prices. However, experts say that the current average price of $3.999 per gallon is still much higher than the levels before the Iran conflict, and it is expected to take until next year to return to those levels.