Oil prices slide as President Donald Trump pauses Hormuz reopening
NewsBytes | May 6, 2026 10:39 AM CST
US gasoline $4.52 highest since 2022
Trump confirmed the blockade is still in place but hinted at possible talks ahead.
Meanwhile, US fuel prices have hit $4.52 a gallon, the highest since 2022, thanks to earlier oil spikes and issues like refinery outages and low inventories.
Gasoline stocks are down below average, while demand is up 1% from last year, so analysts warn we could see even higher prices this summer if supplies keep shrinking.
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