Oil prices are plummeting amid the United States/Iran ceasefire, but will that result in lower gas prices?
"Absolutely, but where they go and how deep they go is really of function of where things go from here," Gas Buddy analyst Patrick DeHaan said, adding that we could see gas and Diesel price decreases as early as this weekend.
However, DeHaan says any price reduction depends on the ceasefire staying in place.
"We could see prices dropping a few cents every day for the next few days, at least, but it's hard to tell. The volatility is off the charts for now."
AAA's Don Redman also believes the prices at the pump will fall, but he's less optimistic than DeHaan regarding the timing.
"I wouldn't expect anything immediately." Redman said. "If there truly is some kind of a long-lasting peace treaty, then I think that we'll see those prices coming down,"
Even then, Redman doesn't expect prices to reach pre-war levels.
"Most of us notice that when prices start falling, they never fall as quickly as they rise," Redman said. "Some of it's because service stations are locked into three-month contracts on the gasoline deliveries because they wanted some kind of stability in their price."
