{"id":7561,"date":"2026-06-29T16:35:24","date_gmt":"2026-06-29T16:35:24","guid":{"rendered":"https:\/\/pronews.in\/index.php\/2026\/06\/29\/us-petrol-prices-ease-despite-ongoing-uncertainties-with-iran\/"},"modified":"2026-06-29T16:35:24","modified_gmt":"2026-06-29T16:35:24","slug":"us-petrol-prices-ease-despite-ongoing-uncertainties-with-iran","status":"publish","type":"post","link":"https:\/\/pronews.in\/index.php\/2026\/06\/29\/us-petrol-prices-ease-despite-ongoing-uncertainties-with-iran\/","title":{"rendered":"US petrol prices ease despite ongoing uncertainties with Iran"},"content":{"rendered":"<div>\n<p><em>US-Iran peace talks ease market volatility but uncertainty keeps oil prices hovering, complicating recovery efforts<\/em><\/p>\n<\/div>\n<div aria-live=\"polite\" aria-atomic=\"true\">\n<p>United States President Donald Trump is touting relief at the pump as US gas prices begin to fall ahead of potential peace talks despite ongoing clashes in the Strait of Hormuz.<\/p>\n<p>\u201cGAS PRICES ARE COMING DOWN.\u201d Trump wrote on Monday on his social media platform, Truth Social.<\/p>\n<section>\n<h2>Recommended Stories <\/h2>\n<p><span>list of 4 items<\/span><\/p>\n<ul>\n<li><span>list 1 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/6\/28\/paradise-lost-how-israel-is-making-war-on-west-bank-farmers\">Paradise lost: How Israel is making war on West Bank farmers<\/a><\/li>\n<li><span>list 2 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/6\/28\/if-usmca-is-not-renewed-analysts-expect-uncertainty-for-businesses\">If USMCA is not renewed, analysts expect uncertainty for businesses<\/a><\/li>\n<li><span>list 3 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/6\/29\/oil-prices-rise-as-us-iranian-strikes-threaten-strait-of-hormuz-reopening\">Oil prices rise as US, Iranian strikes threaten Strait of Hormuz reopening<\/a><\/li>\n<li><span>list 4 of 4<\/span><a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/6\/29\/china-slaps-export-controls-on-dozens-of-japanese-entities\">China slaps export controls on dozens of Japanese entities<\/a><\/li>\n<\/ul>\n<p><span>end of list<\/span><\/section>\n<p>The average price of a gallon (3.78 litres) of petrol has fallen to $3.86, according to the American Automobile Association (AAA), which tracks daily fuel prices. That\u2019s down from a mid-May peak of $4.48 and has declined since Trump announced the reopening of the Strait of Hormuz in mid-June. Prices remain well above the $2.98 per gallon recorded on February 28, when the United States and Israel first launched strikes on Iran.<\/p>\n<p>A renewed diplomatic push between the US and Iran comes after several days of back-and-forth attacks following an Iranian strike on a cargo ship in the waterway, through which roughly a fifth of the world\u2019s oil is normally exported<\/p>\n<p>Uncertainty around the peace deal has weighed on oil supply chains, which could keep prices from falling further.<\/p>\n<p>Oil prices increased by more than one percent on Monday following the latest attacks, but analysts suggest that the renewed peace talks kept prices from jumping higher.<\/p>\n<p>\u201cThe declines came despite a turbulent week, as fresh attacks were traded between the US and Iran before both sides agreed to halt hostilities just in time Sunday, preventing what could have been a significant spike in oil prices,\u201d Patrick De Haan, head of petroleum analysis at GasBuddy, said in a note. \u201c\u2026the situation remains anything but predictable.\u201d<\/p>\n<p>Earlier this month,<a href=\"http:\/\/www.aljazeera.com\/economy\/2026\/6\/16\/us-fuel-prices-to-take-months-to-normalise-after-us-iran-deal-to-end-war\" target=\"_blank\" rel=\"noopener\"> analysts told Al Jazeera<\/a> that, because of shutdowns and supply chain bottlenecks, even if the peace deal held, it would still take several months before prices fell back to pre-war levels \u2013 as the US Strategic Petroleum Reserve hit its lowest level since the Reagan administration.<\/p>\n<p>\u201cHindsight is clear, but does nothing to change the unsustainable nature of the outage. Having consumed domestic commercial stocks and SPRs [Strategic Petroleum Reserve], the world is now drawing on US inventories to find balance, extending the timeline of recovery for inventories post-crisis,\u201d analysts at EverCore ISI Research said in an analyst note published on Monday.<\/p>\n<p>Despite the uncertainty around a stable ceasefire, companies are still loading tankers. For example, on Monday Saudi Aramco loaded a ship that can carry two million barrels after three comparable vessels did the same over the weekend, according to LSEG data.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>US-Iran peace talks ease market volatility but uncertainty keeps oil prices hovering, complicating recovery efforts United States President Donald Trump is touting relief at the pump as US gas prices begin to fall ahead of potential peace talks despite ongoing clashes in the Strait of Hormuz. \u201cGAS PRICES ARE COMING DOWN.\u201d Trump wrote on Monday &#8230; <a title=\"US petrol prices ease despite ongoing uncertainties with Iran\" class=\"read-more\" href=\"https:\/\/pronews.in\/index.php\/2026\/06\/29\/us-petrol-prices-ease-despite-ongoing-uncertainties-with-iran\/\" aria-label=\"Read more about US petrol prices ease despite ongoing uncertainties with Iran\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-7561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-travel"],"_links":{"self":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts\/7561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/comments?post=7561"}],"version-history":[{"count":0,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/posts\/7561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/media\/7562"}],"wp:attachment":[{"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/media?parent=7561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/categories?post=7561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pronews.in\/index.php\/wp-json\/wp\/v2\/tags?post=7561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}