Gas prices fall below $4 on average after Trump’s signing of Iran deal to end war

The average price of gasoline in the United States dropped below $4 per gallon on Thursday, February 17, 2026, marking the first time since March that prices have fallen to this level. This decrease follows the announcement of a preliminary agreement between the U.S. and Iran aimed at ending their ongoing war and reopening the Strait of Hormuz. While this development offers some relief to consumers experiencing elevated fuel costs due to the conflict, the current average price remains approximately $1 per gallon higher than it was before the war commenced. The U.S. government, under President Trump, has been involved in negotiations to de-escalate the situation and restore stability to oil supply routes. The reopening of the Strait of Hormuz is anticipated to significantly impact global oil markets and contribute to further price stabilization. Analysts suggest that a sustained peace and the normalization of trade routes will be crucial for bringing gas prices back to pre-conflict levels. The agreement represents a significant diplomatic achievement and a potential turning point in the geopolitical tensions that have affected energy prices worldwide. Further details on the terms of the agreement and its implementation timeline are expected to be released in the coming days.