WHATCOM COUNTY, WA (MyBellinghamNow.com) – Gas prices could continue to fall in response to a big development in the Iran war.
The Associated Press reports the US and Iran reached an initial agreement on Monday, June 15, to open the Strait of Hormuz, causing oil prices to drop sharply.
The average price of gas in Whatcom County has fallen to $5.39 per gallon as of June 15, according to AAA. That’s about 12 cents lower from the previous week and over 30 cents lower than a month ago, when prices at the pump reached an all-time high locally.
Still, GasBuddy analyst Patrick De Haan warns there remains much uncertainty in the oil market as to whether the agreement to reopen the strait will hold.
Energy experts also say it will likely take months before the strait can resume normal operations.
