Oil prices fall to below $74
@ogbenishyna44 (1765)
June 18, 2026 4:53am CST
You wonder why fuel is still costly in many countries when the cost per barrel has dropped below $80. Have you noticed any significant drop in gas price in your country? This sudden drop in gas prices may be linked to the ending of the Iran-America war which has lower pressure in the transportation of fuel in the middle east.
4 people like this
4 responses
@rsa101 (41117)
• Philippines
1h
I think that’s because the effects might only be felt later, as the peace deal was just recently signed by both parties. Oil supply may soon start to trickle in and spread gradually since the Strait hasn’t fully reopened yet. I imagine there will be an influx of ships passing through, which could slow movement if it opens, assuming no hostilities arise between Iran and the US. Price adjustments could sooner, as long as both sides stick to their promise to avoid conflict.
1 person likes this
@DaddyEvil (174783)
• United States
Just now
Gas has dropped from over $4 a gallon in my part of the US to almost pre-war levels again now. ($3.42/gallon at the Walmart gas station I normally use.)
Hopefully, trump won't do anything else stupid to make gas prices go up again. We also need food prices to drop back to pre-war levels, too.
@Wrexxo (2122)
•
1h
Prices are too high..hope everything falls because of the end of this war. It's been really tough
