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Ceasefire will bring Down Gas Prices

 Tuesday evening, U.S. President Donald Trump and Iran’s foreign minister announced they agreed to a Pakistani-proposed ceasefire. Trump released a statement first, in which he said he would stop the “destructive force” en route to Iran if Tehran began allowing ships to pass through the Strait of Hormuz.

Gas prices should begin dropping by Thursday night, according to Patrick De Haan, the head oil analyst of fuel price tracker GasBuddy.

The national average for a gallon of gas is $4.16, AAA data shows. Diesel prices are around $5.67, 14 cents below the record average of $5.81 that was reached in 2022, according to the organization.

Gas prices could start reversing nationally within 48 hours coming down by a few cents every day. Diesel prices will reverse slightly slower.

Lucky Knott

Lucky Knott is a longtime broadcaster, sportscaster, and news reporter, having worked in radio here in the Sequatchie Valley and in Coffee and Grundy County for many years. You can hear his news reports weekday mornings and afternoons on The River 104.9 WEPG in Marion County and Country Roads 93.3 in Dunlap/Pikeville. He is also Editor for SValleyNow.com - Sequatchie Valley Now.