Gas Prices May Continue Downward Trend

Gas prices fell below four dollars a gallon for the first time since mid-April on Sunday. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, the decline came as oil prices moved sharply lower in reaction to news of a potential deal between the United States and Iran, though it remains to be seen whether the agreement will hold. De Haans says a handful of “price-cycling states” saw averages jump before joining the broader downward trend. He says the real test now shifts to the Strait of Hormuz, where any reopening and resumption of normal oil flows would be the clearest signal that this relief is durable. De Haan says for now, the national average could continue falling, provided there isn’t a drastic reversal and the U.S. and Iran continue moving in a positive direction.