As talks of a deal between Washington and Tehran gained steam over the weekend, GasBuddy analyst Patrick De Haan opined on Sunday about how gas prices will fall.
Gas Prices To Plummet
De Haan took to X, quoting a post by a user who predicted that gas prices would fall in the coming days following talks of a possible deal.
The analyst acknowledged that fuel prices were falling, but until a definitive agreement between the U.S. and Iran was “signed & a significant amount of ships transit through the Strait,” the national average price for a gallon of gas would likely stay “well above $4.”
“Only once we start seeing confidence and ships move will prices plummet,” De Haan said in the post. According to data collected by the American Automobile Association (AAA), the national average price for gas fell to $4.515/gallon, with California prices still above the $6 mark at $6.111/gallon despite the decline.
Kalshi Bettors Weigh In
Bettors on the prediction market platform Kalshi weighed in on gas prices in the U.S., predicting that there was a 50% chance that the national average hits $2.80/gallon by the end of 2026, according to the trade on the platform on Sunday. The trade also showed an 85% chance that prices would fall below $3.80/gallon this year.
Iran War Updates
President Donald Trump has been facing criticism from the GOP lawmakers over a possible deal with Iran that would result in a reported 60-day ceasefire, with Sen. Ted Cruz (R-TX) saying that he was “deeply concerned” about a deal that could reverse the U.S.’s military gains.
Trump had earlier shared that a deal was imminent between the two sides, following more than 80 days of the war, saying that negotiations with the Iranian government were proceeding well, but cautioned against rushing into any agreements with Tehran.
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