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Story summary
- Oil prices fell by $10 to $12 per barrel after the Strait of Hormuz reopened.
- Analysts expect gasoline prices to drop 25 to 30 cents.
- Analysts predict gas prices will fall by 50 cents within weeks and the national average could reach $3.45 to $3.65 by Memorial Day.
- Full normalization of oil flows may take months due to lingering security concerns and damaged infrastructure in the Middle East.
