Gas Prices Slip as Oil Markets Hope for Diplomacy

(Undated) — Gas prices retreat as oil markets hope for diplomacy. GasBuddy Head of Petroleum Analysis, Patrick De Haan, says average gasoline prices declined in 40 states over the last week as falling oil prices helped offset earlier price cycling in many markets. He says much of the decline came after renewed optimism surrounding a potential U.S.-Iran agreement pushed oil prices lower, easing geopolitical pressure on energy markets. De Haan says in many states that drop created “breathing room” after recent price cycles allowed pump prices to fall again. He says for now, motorists may continue to see some relief, but it remains too early to know how long the decline will last. The current national average is $4.45 a gallon.