FX.co ★ Gasoline Prices Decline

US gasoline prices fell below $2.90 per gallon, tracking the decline in crude oil as markets focused on the potential for US‑Iran peace talks, even as mixed signals from both sides kept uncertainty high. Iran’s Deputy Foreign Minister Kazem Gharibabadi stated that Tehran would proceed with plans to jointly manage traffic in the Strait of Hormuz “if for any reason Oman is not interested in doing so,” underscoring ongoing tensions over the critical shipping corridor. Traffic through the strait eased over the weekend after renewed clashes damaged two vessels, yet tanker operators and crews have so far remained willing to continue transiting the route. Domestically, President Donald Trump called on gasoline retailers to cut prices immediately, warning of “big problems” if they did not comply. For the month, gasoline prices are on track for a 6% decline, and roughly a 10% drop for the second quarter.