Tracking oil prices and US gas prices amid Iran conflict

By Soph Warnes, Matt Stiles, Tal Yellin, Byron Manley, Lou Robinson, Renée Rigdon, Annette Choi, CNN

(CNN) — Global oil prices rose significantly during the United States and Israel’s war with Iran. Since the United States and Iran signed a peace plan to end the war, oil prices have been declining and all eyes are on Iran’s plan to fully open the Strait of Hormuz, the vital waterway for transporting crude to the rest of the world.

Experts have cautioned not to expect an immediate return to normal vessel movements.

CNN is tracking the price of oil and US gasoline prices, as well as traffic through the strait.

Tracking US gas prices

The peace negotiations in the Middle East are having an effect, and American fuel stations are now charging less than $4 on average for a gallon of regular gas. In June, after the peace plan was signed, gasoline prices dropped below the $4 threshold for the first time since March 30, according to the AAA.

See the average price of a gallon of gasoline in each state and how it has changed since the beginning of the US-Israeli war with Iran:

During the war with Iran, gasoline prices were at their highest level in more than three years.

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— CNN’s Chris Isidore contributed to this report.