South Florida drivers and experts are hopeful as gas prices drop due to 2 week ceasefire between the U.S. and Iran

Crude oil prices have plunged on Wednesday, and relief could be on the way at the gas pump soon.

The national average for gasoline on Wednesday was $4.15 a gallon, up a penny or two just since Tuesday, according to Gas Buddy petroleum analyst Matt McClain.

Drivers are hopeful gas prices will continue to drop after President Trump announced a two-week ceasefire between the United States and Iran.

"Hopefully with this stand down, hopefully things go down now," said Ron Cook, who waited in long lines at the Costco in Davie. Another Hollywood resident, Tony DeFronzo, added, "I imagine in a month they'll be back to normal".

Analyst Matt McClain was cautious, saying, "I think if one thing this conflict has taught all of us it to never bet on anything until its actually physically happened". However, he did see a "glimmer of light".

McClain explained that if the ceasefire holds, crude oil prices will fall. He cautioned that gas prices might still see an increase of "a few cents more per gallon" as the market releases its current momentum.

Despite this, McClain predicts that gas prices could drop 5 to 10 cents by the middle of next week. He advised drivers who don't need gas immediately to wait a day or two, as prices could go down as soon as this weekend.

"Up to 10 cents a gallon decrease between now and this time next week—that's kind of what we're thinking at this particular point," McClain said, noting that "things are very fluid".

If the ceasefire does not hold, prices are expected to climb back up again.

Jason Knapp from Hollywood said he is currently spending an extra $100 to fill up his boat. He suggested that people need to be patient with the shifting situation: "People need to realize that when something like this is going on, it needs to change and it's going to take some time".