Will gas prices go down due to US-Iran ceasefire? What to expect

Gas prices in the United States, above $4 per gallon, could continue to rise after Iran reportedly closed the Strait of Hormuz, a day after President Donald Trump announced a two-week ceasefire. Iran closed the vital trade route in response to heavy Israeli bombardments on Lebanon, Iran’s semi-official Fars News Agency reported. However, White House Press Secretary Karoline Leavitt said those claims were untrue and the route had been reopened. A key component of the ceasefire is for the strait to remain open while negotiations take place over the next two weeks. If the strait is now closed, as Iranian…