Episode Details

Gas prices just dropped below $4 a gallon for the first time since tensions with Iran escalated — thanks to a tentative deal reopening the Strait of Hormuz, a key oil shipping route. While this is a major relief after recent highs of $4.56, prices are still 25% above last year’s levels. Crude oil costs are falling, but refinery operations, storage, and local supply chains mean savings won’t hit pumps overnight. The ripple effect? Businesses using diesel and consumers paying for everything from groceries to flights could soon feel the relief — as fuel’s role in inflation starts to ease.

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