What to Expect From Gas Prices For the Rest of the Year

Gasoline prices are expected to fall for the rest of the year, following oil prices that have plunged since the Strait of Hormuz reopened to ship traffic.

Gas prices have tracked oil higher, but have fallen more slowly and could surge again if the war in Iran resumes.

Filling up your tank is likely to gradually get cheaper as the year goes on, barring a setback in the Iran war, forecasters say.

The peace deal between the U.S. and Iran will be a turning point for gasoline prices for the rest of 2026 if the cease-fire holds and the crucial Strait of Hormuz between Iran and Oman stays open to oil tankers, forecasters said. Gasoline prices have been steadily falling since late May, when the conflict began to simmer down, according to AAA.

On Thursday, a gallon of gasoline averaged $3.92, well over the $2.98 prewar average but below the recent peak of $4.56. Prices should continue to fall for the rest of the year, averaging just over $3.50 per gallon by the beginning of 2027, the Energy Information Administration predicted earlier this month.

Falling gas prices would ease some of the upward pressure on inflation, bringing relief to household budgets and the broader economy.

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Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/expect-gas-prices-rest-214450929.html)