Price Of Gas Takes Extremely Large Drop

On news that the Strait of Hormuz would open and allow oil tankers through, gas quickly dropped by almost $ 0.10 to below $4 for the first time since mid-April, settling at $3.99. According to Patrick De Haan, head of petroleum analysis at GasBuddy, “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.” It is worth remembering that the price was closer to $3 at the start of the year.