Gas prices reach one-month low Monday, expected to rise again soon
Kelsey Merison
OREGON (KTVZ) — It might be a good idea to fill your gas tank as soon as possible. Gas prices reached a one-month low Monday, settling at a national average of $4.32 per gallon.
That’s based on oil prices where traders built in the possibility of a deal with Iran to reopen the Strait of Hormuz. But Monday morning, Iran pulled out of negotiations in protest over Israel’s attacks in Lebanon.
That makes a reopening extremely unlikely.
Oil futures shot up following the news, and prices at the pump are likely to follow.