Gasoline Prices Hold Near $2.90

Gasoline Prices Hold Near $2.90 US gasoline prices held near $2.90 per gallon, hovering just above their lowest level in more than three months after reversing much of their conflict-driven surge over the past quarter. Oil flows through the Strait of Hormuz continued to improve, with crude shipments topping 10 million barrels per day under US military protection, according to a US official. The UAE also restored exports to pre-war levels by relying on alternative routes, while Iran’s crude shipments exceeded 40 million barrels after the US ended its naval blockade. Separately, President Donald Trump welcomed progress in negotiations following another round of indirect talks. On the data front, gasoline inventories fell by a larger-than-expected 2.333 million barrels in the week ended June 26. Elsewhere, US Treasury Secretary Scott Bessent urged oil and gas companies to cut fuel prices, a day after President Donald Trump called on retailers to lower gasoline prices.