Despite the United States dumping 14-bunker-buster bombs on Iran's nuclear facilities, gas prices could be lower heading into the 4th of July holiday.

In retaliation to the bombings, Iran launched missiles at a U.S. base and threatened to close off the Straight of Hormuz, where one-fifth of the world's oil flows through. However, Patrick DeHaan, a petroleum analyst at GasBuddy, notes that gas prices in the U.S. are lower due to a ceasefire between Israel and Iran.

According to DeHaan, closing off the Straight of Hormuz would be nearly impossible due to the Straight being over 20 miles wide.