US gasoline futures slipped below $3.10 per gallon, pausing their recent rally, as markets weighed signs that Washington may soon ease sanctions on Iranian oil at sea to relieve price pressures. Treasury Secretary Scott Bessent indicated the move could involve roughly 140 million barrels and help cap prices over the next 10 to 14 days. At the same time, President Donald Trump stated the US has no intention of deploying ground troops, while Benjamin Netanyahu suggested Israel would avoid further strikes on Iranian energy infrastructure. That stance reduced fears of additional damage that could trigger more severe supply disruptions.
Even so, gasoline prices remained more than 1% higher for the week and are up about 30% so far this month, as traffic bottlenecks in the Strait of Hormuz continue to constrain flows. Seasonal factors are adding further upward pressure, with spring travel gaining momentum and refineries shifting to more expensive summer-grade fuel blends.