While drivers are seeing some relief at the pump, the U.S. Energy Information Administration says gas prices are likely to remain elevated despite a recently announced peace agreement between the U.S. and Iran.

Local Impact

In Bexar County, the average price of gasoline is currently about $3.14 per gallon, more than 30 cents lower than the Texas state average. The national average remains just under $4 per gallon.

Although prices have eased somewhat in recent weeks, Americans are still paying significantly more for fuel than they did before the conflict began. The U.S. Senate Joint Economic Committee estimates Americans have spent more than $25 billion in additional gasoline costs since the start of the U.S.-Iran war.

National Outlook

The U.S. Energy Information Administration forecasts the national average gasoline price will be about $2.98 per gallon throughout 2026 and remain above $3.40 per gallon through 2027. Energy analyst Rob McNally of Rapidan Energy Group says that even if tanker traffic through the Strait of Hormuz resumes in the coming weeks, the oil market may continue dealing with supply shortages created during the disruption.

Original reporting: San Antonio, TX News (HLL/CB) — read the source article.