Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Business & Finance › A Return to $3 Gasoline? Here’s What It Will Take
Business & Finance

A Return to $3 Gasoline? Here’s What It Will Take

A Return to $3 Gasoline? Here’s What It Will Take
Bloomberg Markets Thursday 18 June 2026, 17:04 UTC By Will Kubzansky 1 min read
Key Points

Explainer A Return to $3 Gasoline? Here’s What It Will Take Oil prices have plummeted following news of a US-Iran deal that is meant to reopen the Strait of Hormuz, but US drivers probably will have to wait a while for cheaper gasoline. Traders and analysts say that prices are unlikely to fall to pre-crisis levels until stockpiles of crude oil and gasoline are replenished, which probably won’t happen before the end of 2026.

Explainer A Return to $3 Gasoline? Here’s What It Will Take Oil prices have plummeted following news of a US-Iran deal that is meant to reopen the Strait of Hormuz, but US drivers probably will have to wait a while for cheaper gasoline. Traders and analysts say that prices are unlikely to fall to pre-crisis levels until stockpiles of crude oil and gasoline are replenished, which probably won’t happen before the end of 2026. A peace agreement could bring an end to one of the most severe oil supply shocks on record by restoring normal traffic in the strait, a vital trade route for around a quarter of the world’s seaborne oil, that has been effectively shut since the US and Israel attacked Iran in late February. [Image text:] cleal Regular with Wash 5.598 Regular Plus 6.398 V-Power 6.99% Accepted Gol Rless 55
US (LOCATION) Iran (LOCATION) the Strait of Hormuz (LOCATION) Israel (LOCATION)
Originally published by Bloomberg Markets Read original →

Related Stories

Amazon investigating engineers who criticized AI data center expansion

A group of Amazon engineers said they're being investigated by the company after they criticized the breakneck expansion of artificial intelligence data centers and called for stronger government regulation. Earlier this month, five Amazon employees testified at Seattle City Council meetings where officials sought public feedback on a year-long pause on the construction of new large-scale data centers to give the city time to regulate the projects. Seattle passed the moratorium in a...

CNBC 8m ago

SpaceX bankers prepare for potential US$20 billion bond offering, sources say

SpaceX bankers prepare for potential US$20 billion bond offering, sources say The offering would mark the first time the rockets-to-AI company has issued investment-grade dollar bonds SpaceX’s bankers are preparing to meet investors as early as next week to discuss a bond offering of at least US$20 billion, two sources familiar with the matter said on Thursday, as Elon Musk’s newly public company seeks funding for an ambitious and capital-intensive AI expansion. SpaceX’s AI ambitions come...

South China Morning Post 15m ago

The Iran oil shock taught traders these key lessons about demand and China

Global oil prices on Thursday touched their lowest level since the U.S.-Israeli war with Iran began almost four months ago. That marks a drop of more than 30% from their May peak and likely averts the disaster commodity experts had warned about as one of the largest crude supply shortages in history began playing out.

MarketWatch 18m ago

The pros and cons of retiring overseas with your pension

The pros and cons of retiring overseas with your pension Fri 19 Jun 2026 at 5:36am Ray Merlehan and his wife are thinking about moving to Malaysia, Spain or Greece when they retire. Financially, it may be a better option for the couple than staying in Australia. "I feel a little bit disappointed," Mr Merlehan said.

ABC Australia 19m ago