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US Gas Prices Fall Below $4 a Gallon for First Time Since March as Iran Deal Calms Oil Markets

The nationwide average price of regular unleaded gasoline dipped to $3.999 per gallon on June 18, marking the first time the average has fallen below the $4 threshold since March 30. Twenty-eight consecutive days of declines, driven by a 20 percent drop in US crude oil prices since the May peak of $109 per barrel, pushed the average down as the US-Iran peace memorandum signed June 15 eased fears of Strait of Hormuz disruptions.