Prices at the pump continue to drop as oil prices take a dive amid talks to reach a deal with Iran.
Oil prices dropped to just under $70 a barrel by 6 a.m. Friday, June 26, a day after the BBC reported that oil had reached the lowest level since before the Iran conflict.
Prices at the pump are also dropping.
Across the United States, the average price for a gallon of regular, unleaded gas is $3.9010 — down from $4.4910, and closer to what it was a year ago, $3.2200, according to AAA. Texas is one of the states paying the lowest cost for gas with the average price for a gallon of regular, unleaded gas at $3.3610.
While lower than the national average, Texas is still paying significantly more than a year ago — when the Lone Star State averaged $2.8210 for a gallon of fuel.
Gas prices have declined for nearly four consecutive weeks, according to AAA, just as millions of Americans are expected to hit the road for Independence Day travel.
Oil price per barrel today
The price of oil was under $70 a barrel during the early morning hours of Friday, June 26.
Iran peace deal
While peace talks this week between the United States and Iran in Switzerland “concluded successfully, reported USA TODAY, new reporting by CBS News indicates the there’s still not safe passage through the Strait of Hormuz.
Iran’s deputy foreign minister Kareem Gharibabadi wrote in a June 26 X post: “Safe passage through the Strait of Hormuz, with ambiguous arrangements, parallel routes, or decision-making outside of Iran’s considerations as the coastal state, cannot be guaranteed.”
Natassia Paloma may be reached at npaloma@gannett.com, @NatassiaPaloma on X; natassia_paloma on Instagram, and Natassia Paloma on Facebook.
This article originally appeared on El Paso Times: Are gas prices finally going down? Here’s the price of oil today
Reporting by Natassia Paloma, El Paso Times / El Paso Times
USA TODAY Network via Reuters Connect
By Natassia Paloma, El Paso Times | USA TODAY Network
