YOUR BUSINESS AUTHORITY
Springfield, MO
American motorists would face pain at the pump for months even if the U.S. and Iran strike a peace deal and move quickly to reopen the Strait of Hormuz, according to energy experts.
"It is all contingent on when boats start moving through the Strait of Hormuz," GasBuddy petroleum expert Patrick De Haan told CBS News. "If and when that happens, it will be a very long, multimonth to multiyear process for things to fully normalize."
Across the U.S., a gallon of regular gas on Tuesday sold for an average of $4.29, down from more than $4.50 in May, according to AAA. Gas averaged $2.98 a gallon just before the U.S. and Israel attacked Iran at the end of February.
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