Gas prices won’t drop to $3 soon—even with Iran ceasefire, experts say

US gas prices around $4.15–$4.17 per gallon aren’t expected to fall back to prewar $3 even if Iran’s ceasefire holds. Uncertainty over reopening the Strait of Hormuz, plus ongoing Gulf production cuts, possible tolls, higher shipping insurance, and risk premiums in oil futures—all compounded by global market dynamics—mean relief to below $3 is unlikely this year, with some analysts suggesting it may not happen until next year.