US gas at the pump falls below $4 as Iran pressure eases
“From the narrow perspective of gasoline retail prices, this is a ‘win,’ albeit only relative to the high prices that were created by this conflict in the first place. The hard work of creating a lasting peace deal is still ahead.” — Neil Crosby, Head of Research at Sparta Commodities
- Expert: Neil Crosby (Head of Research, Sparta)
- Publication: Bloomberg
- Market Focus: Gasoline, Crude Oil
- Geographies: US, Middle East
In a recent analysis for Bloomberg, Sparta’s Head of Research, Neil Crosby, cautions that US gasoline falling below $4 a gallon is a relative win rather than a recovery, with pre-war price levels not expected to return until next year. National regular unleaded averaged $3.999 on June 18 — the first time since March — down from a May peak above $4.50, as crude slid below $80 a barrel on improving Hormuz traffic and a sharper-than-expected slowdown in Chinese demand. US gasoline stockpiles remain at their lowest seasonal level in more than a decade, leaving supply vulnerable to any reversal in the ceasefire. Traders should watch the pace of inventory replenishment and progress on a lasting peace deal to gauge whether further price declines can hold.
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