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National average fell to $3.93 last week, the first time below $4 since March. Oil closed at $73.21 Tuesday after a 36 percent decline from April peaks.
Nbc NewsU.S. gas prices fell below $4 per gallon last week for the first time since March, according to motor club AAA data. The national average reached $3.93, down 13 percent from $4.52 a month earlier.
market signals Oil prices fell more than 1 percent Wednesday, extending weekly losses and trading near four-month lows. U.S. crude closed at $73.21 Tuesday, $6.19 above the level recorded the day before military action began in late February. That price represents a drop of more than 36 percent from the April peak.
The decline followed reports that additional oil tankers were preparing to exit the Strait of Hormuz.
political stakes Higher fuel costs earlier in the year added between less than $20 and more than $300 per month for drivers who refuel twice monthly, according to an NBC News analysis of AAA figures. The current average remains 71 cents above the level recorded one year ago.
Officials expressed hope that continued traffic through the Strait will sustain the downward price trend while final negotiations proceed.
Military.comNorth Korea commissioned the 5,000-ton destroyer Choe Hyon into its navy Tuesday at Nampo port. Kim Jong Un attended and outlined further plans for nuclear-armed surface ships. The move follows earlier tests and a damaged sister vessel.
indiatoday.intoday.inU.S. President Donald Trump stated on June 24 that Iran informed the United States it is not seeking tolls, insurance costs or other charges from ships in the Strait of Hormuz. The announcement follows a framework deal signed last week and the conclusion of initial negotiations i…
France 24NATO Secretary-General Mark Rutte will meet President Donald Trump at the White House on Wednesday. The session occurs two weeks before the annual NATO summit scheduled next month in Turkey.