00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The national average price for regular gasoline fell below $4 per gallon Tuesday
00:07for the first time since July 20th, according to NBC News.
00:12AAA data shows that the average dropped from $4.14 on election day to $3.97
00:19as oil prices plunged amid expectations of reduced tensions with Iran following the midterm elections.
00:25Diesel prices also declined from $6.28 to $6.15 per gallon.
00:32Oil futures fell 13% last week and another 5% Monday,
00:37while Brent crude briefly dropped below $90 per barrel Tuesday.
00:41However, gasoline remains more than 30% higher since the Iran war began on February 28th,
00:48while diesel is up more than 70% this year.
00:50Oil markets face pressure to replenish hundreds of millions of barrels of depleted reserves,
00:56with the U.S. Strategic Petroleum Reserve at its lowest level since 1982.
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01:04Oil markets facepps
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