US gasoline prices have declined for a sixth consecutive week, with significant weekly drops recorded across key states including Colorado, Arizona, and Ohio.
The sustained downward trend marks a notable shift from the price surges that plagued consumers earlier in the year.
The price relief comes as geopolitical risks in the Middle East appear to be receding.
Reports indicate that Iran is preparing to restore traffic through the Strait of Hormuz as part of a potential agreement with the United States.
This development has helped stabilize crude oil markets, which had previously spiked on fears that a prolonged conflict could disrupt global supply chains.
The drop in pump prices is likely to provide some relief to US consumer sentiment, which fell to an all-time low in early May driven by surging energy costs linked to the regional conflict.