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Illinois’ average cost per gallon Friday was $4.24, higher than
the national average and still nearly $1 more than the Illinois
price a year ago.
The price decrease for Illinois, however, month-over-month was
roughly 80 cents – a larger shift than the 56-cents difference
in the national average, according to AAA.
Vice President J.D. Vance told the media Thursday that as a
result of negotiations with Iran and a tentative deal being
struck to bring an end to the conflict with Iran, the cost of
motor fuel to consumers has begun to fall steadily.
“Last night, 12.5 million barrels of oil went through the Strait
of Hormuz. That is a high since the beginning of the conflict.
Oil prices are down nearly at their level from the pre-war
conflict. Gas prices dropped below $4 a gallon today for the
first time since the conflict,” Vance said.
As of Friday morning, a U.S. official confirmed to The Center
Square that both Israel and Hezbollah had agreed to a ceasefire,
after fire between the two forces seemingly stalled peace talks
between the United States and Iran.
Vance delayed a trip to Switzerland for discussions with Iranian
officials planned for Friday, where both sides were expected to
officially sign a memorandum of understanding that includes a
stipulation to end conflict in Lebanon as part of the larger
ceasefire.
Days after the memorandum gained preliminary agreement from both
sides on June 14, President Donald Trump touted the tentative
deal as a success for the U.S.
“On Sunday we reached an agreement with Iran that achieves
everything we set out to accomplish,” the president said.
“Ending the current conflict, reopening the Strait of Hormuz,
and preventing Iran from ever obtaining a nuclear weapon.”
Vance also confirmed that the U.S. has lifted its blockade of
the strait.
“All we've done is lift the blockade, and the straight we
basically returned it to where it was before for the conflict.
The blockade is off, we put that in after the conflict started.
The straits are now open,” Vance said.
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