US fuel prices to take ‘months’ to normalise after US-Iran deal to end war (opens original article in a new tab)

A US-Iran deal to end the war has lowered oil prices but fuel prices in the US may take months to return to pre-war levels due to supply chain disruptions, production delays, and shipping bottlenecks. Grocery prices also remain high due to ongoing supply chain issues.

• Preliminary deal to end US-Iran war causes oil prices to drop to three-month low
• US fuel prices may not return to pre-war levels until 2027 due to supply chain issues and production delays
• Global oil inventories and shipping bottlenecks will take months to recover after Strait of Hormuz closure
• US strategic petroleum reserves at 1983 levels, while grocery prices remain elevated due to supply chain impacts