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US gas prices fall below $4 for 1st time since March, but still 25% higher than last year

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US gas prices fall below $4 for 1st time since March, but still 25% higher than last year
News

News

US gas prices fall below $4 for 1st time since March, but still 25% higher than last year

2026-06-18 20:31 Last Updated At:20:41

NEW YORK (AP) — U.S. gas prices fell below $4 a gallon on average Thursday, but just barely.

It is the first time since March that the average cost for a regular gallon has been that low. Prices fell overnight after President Donald Trump signed an agreement with Iran that calls for Tehran to dilute its stockpile of highly enriched uranium and waives U.S.-backed sanctions on the country.

Gas prices are at $3.999 on average in the U.S., according to motor club AAA. The drop below $4 follows a 15% decline in the price of U.S. crude this month.

But fluctuations in gas prices remain across the country. In California, gas prices are averaging $5.64 per gallon, while in South Carolina it’s $3.58 per gallon.

The agreement between the U.S. and Iran calls for a permanent end to hostilities and starts a 60-day negotiating clock to reach a final deal on the future of Iran’s nuclear program, though Trump left the door open to resume attacks. It appears to offer Iran several benefits up front while extracting little in return.

Oil prices fell Monday to about $80 for a barrel of U.S. benchmark crude. That compares to $67 per barrel before the war and the price of over $120 a barrel reached earlier in the conflict.

Even as gas prices start to decline, it is anticipated to take weeks or months for oil to start flowing through the Strait of Hormuz again.

Before the war, the strait carried a fifth of the world’s crude oil. Now, it will take time for hundreds of ships trapped in the Persian Gulf to exit through the narrow strait. And Gulf oil producers that throttled back production will need time to get the oil moving again. Analysts also say ship captains may take their time to decide if passage is safe and that the threat of attack from Iran has truly receded.

In addition, refineries typically pay for crude oil a month or more in advance, so even after oil prices drop, they won’t immediately be processing cheaper products.

Fighting over the Strait of Hormuz disrupted not only supplies of crude and refined fuel but also the supply chains for fertilizer, food and even footwear. Businesses expect higher costs to linger, which means their customers might need to prepare for that too.

Customer checks gas price before she fills up her vehicle's tank at a gas station in Lincolnshire, Ill., Monday, June 8, 2026. (AP Photo/Nam Y. Huh)

Customer checks gas price before she fills up her vehicle's tank at a gas station in Lincolnshire, Ill., Monday, June 8, 2026. (AP Photo/Nam Y. Huh)

FILE - A customer readies to pump gas at this Ridgeland, Miss., Costco, Tuesday, May 24, 2022. s. (AP Photo/Rogelio V. Solis, File)

FILE - A customer readies to pump gas at this Ridgeland, Miss., Costco, Tuesday, May 24, 2022. s. (AP Photo/Rogelio V. Solis, File)

WARSAW, Poland (AP) — Polish authorities have arrested a man suspected of fatally shooting in broad daylight a Russian activist critical of President Vladimir Putin and believe there is a likely link to a foreign intelligence service, top officials said Thursday.

The killing is the latest act which Polish authorities believe could be part of a campaign of Russian sabotage in NATO nations aimed at sowing fear and demoralizing Ukraine's closest allies.

The suspect in Monday's killing in Poland is a 36-year-old man who carried a passport belonging to the ex-Soviet republic of Georgia, Interior Minister Marcin Kierwiński said at a news conference in Warsaw.

Kierwiński said the man is suspected of links to organized crime and is being linked by police to other crimes committed in Poland, including those dating to 2022.

Robert Kuzovkov, known by the pseudonym Semyon Skrepetsky, was killed near his home in the eastern Polish city of Biala Podlaska, a city near the border with Belarus. Polish police say the victim was 44 years old.

Prosecutors said the perpetrator fired two shots at him, then shot him three more times at close range before fleeing. Kuzovkov died at the scene of gunshot wounds to the head, chest and back.

“We consider it possible that foreign intelligence services may have been involved,” said Tomasz Siemoniak, Poland’s security services minister, who spoke at the press conference alongside the interior minister.

“Foreign services sometimes hire criminals to carry out operations. We have seen this in previous years. While those cases did not involve murder, criminals were hired to conduct assaults in other countries. We are therefore taking this possibility very seriously,” Siemoniak said.

Polish Prime Minister Donald Tusk said Wednesday that the killing has the hallmarks of a political assassination.

“Everything points to this being a political murder,” Tusk said, adding: "if that was the case — if it was ordered by Russia — then it is an extremely serious matter internationally. It would constitute state terrorism.”

Polish investigators initially detained two Belarusian citizens but released them later, saying they had no evidence that they were directly involved in the killing.

Polish prosecutors said the Russian activist used his art to express criticism of Russian authorities.

He painted unflattering portraits of Putin, Chechen leader Ramzan Kadyrov and other high-ranking Russian officials. One depicts Putin being cradled in the arms of the Soviet dictator Josef Stalin.

On Sunday, he posted a video on his YouTube channel showing him in Berlin putting a Russian flag in a trash can on June 12, the holiday marking Russia’s sovereignty.

Since it invaded Ukraine in 2022, Russia has been accused of trying to assassinate its opponents abroad, including targeting exiled activists in France and Lithuania.

Officials in Germany have also broken up plots targeting the head of a German weapons supplier to Ukraine and a Ukrainian military official.

Polish authorities arrested a man in 2024 in what they said was a plot to assassinate Ukrainian President Volodymyr Zelenskyy. That same year, a Russian helicopter pilot who defected was killed in Spain, with Russian operatives as the prime suspects.

A man identified by Polish media as Robert Kuzovkov and by prosecutors as Robert K., in accordance with Polish privacy law, who they said was an artist who used the pseudonym Semyon Skrepetsky, poses for a photo with one of his paintings near the Russian Embassy in Berlin, Germany, on Friday, June 12, 2026, four days before Polish authorities said he was shot and killed in Biala Podlaska, Poland. (Vasily Krestyaninov/SOTA via AP)

A man identified by Polish media as Robert Kuzovkov and by prosecutors as Robert K., in accordance with Polish privacy law, who they said was an artist who used the pseudonym Semyon Skrepetsky, poses for a photo with one of his paintings near the Russian Embassy in Berlin, Germany, on Friday, June 12, 2026, four days before Polish authorities said he was shot and killed in Biala Podlaska, Poland. (Vasily Krestyaninov/SOTA via AP)

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