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Gas Prices May Drop Below $3 Amid Iran Tensions

3/17/2026

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Story summary
  • Gas prices in the U.S. average $3.69 per gallon.
  • Energy Secretary Chris Wright predicts continued pump pressure for weeks.
  • Wright says prices could drop below $3 by summer if the Iran conflict resolves.
  • The U.S. plans to release 172 million barrels from reserves to stabilize the market.
  • Oil prices stay near $100 per barrel, influenced by U.S. airstrikes on Iranian oil infrastructure.