Oil prices plunged and stock markets rallied after President Donald Trump and Iran's foreign minister said the Strait of Hormuz had reopened to commercial shipping following nearly seven weeks of war. While the announcement raised hopes for relief at the pump, gasoline prices in the United States remain sharply higher than before the conflict, and experts caution that declines will take time.

Energy analysts say gasoline prices typically rise quickly but fall slowly. Even with tankers resuming passage, weeks may pass before crude reaches refineries, is processed into fuel and shipped to consumers. Lingering security concerns, shipping congestion, damaged energy infrastructure and elevated insurance and transport costs are also contributing to sustained high prices.

Some analysts expect gradual declines in the coming weeks, potentially lowering average prices significantly by early summer if the strait remains open. However, a full return to prewar price levels could take months, as mines are cleared, tanker traffic eases and oil production facilities across the Middle East recover from war-related disruptions.