Strait Of Hormuz To Open: When Will Gas Prices Go Down? - What You Need To Know - April 8, 2026

[0:04] This is what you need to know now. [0:06] A fragile U.S.-Iran cease-fire deal [0:08] is raising hopes of peace, [0:10] but questions remain about whether it will hold. [0:12] Oil prices just saw their biggest single-day drop in years, [0:16] driving a market reversal that could ease pain at the pump. [0:19] The suspect in the Gilgo beach serial killings in court, [0:23] pleading guilty in a decades-long case. [0:25] Plus, the baseball game erupting into a bench-clearing brawl, [0:29] sparking chaos on the field. [0:31] And a marching band proves the show must go on, [0:34] even after their instruments were stolen [0:36] hours before a big performance. [0:38] We have much more of what you need to know now. [0:41] I'm Rachel Scott from ABC News. [0:42] It is Wednesday, April 8th. [0:44] This is what you need to know. [0:46] We'll show you the airline now restricting [0:48] portable battery chargers on flights, [0:50] and another country banning social media for teens. [0:53] But first, the big story. [0:55] A tentative cease-fire between the United States and Iran [0:58] appears to be holding, though uncertainty does remain [1:01] over how the straight-up moves will be managed, [1:03] and what exactly comes next in these negotiations. [1:06] President Trump said the United States will coordinate [1:08] closely with Tehran, while Iranian officials hailed the pause [1:11] as a victory for their nation. [1:13] Defense Secretary Pete Hegseff says he believes the cease-fire [1:16] will hold, adding Iran begged for the cease-fire. [1:20] Iran begged for this cease-fire, and we all know it. [1:25] As the president truth this morning, a big day for world peace. [1:30] Iran wants it to happen. [1:32] They've had enough. [1:34] Let us be clear, a cease-fire's a pause, and the joint force [1:38] remains ready if ordered or called upon to resume combat operations. [1:43] Hegseff also said U.S. troops will remain, quote, [1:46] hanging around to ensure that Iran complies. [1:49] Karen Travers has more on how this deal came together. [1:52] Rachel, the last-minute deal helped along by Pakistan briefly pauses [1:57] a widening conflict that has raised fears of a devastating regional war. [2:02] The deal was announced less than 90 minutes before President Trump's [2:05] deadline to launch attacks, which he had warned could destroy Iranian civilization. [2:10] But confusion over the terms is now casting doubt on whether the truce will hold. [2:15] One sticking point, Iran says it could begin charging ships passing through [2:20] the critical Strait of Hormuz, a move that could disrupt global energy markets. [2:24] President Trump says he's considering the formation of a joint venture with Iran [2:29] to set up tolls in the strait, describing it as a way to secure it from lots of other people [2:34] and calling it a beautiful thing. [2:36] But any such venture was not part of Iran's original ten-point plan [2:39] that the president called workable. [2:41] It's also still unclear what the deal means for Tehran's nuclear and missile programs [2:46] or whether other countries will accept these conditions. [2:49] Negotiators plan follow-up talks as early as Friday in Islamabad, Pakistan to try to hammer [2:55] out a more permanent agreement. [2:57] Meanwhile, Israeli airstrikes pounded central Beirut today, hitting commercial and residential [3:02] areas just hours after the ceasefire. [3:05] Israel says the U.S.-Iran truce does not cover its fight with Hezbollah, while Pakistan [3:10] mediators say it does. [3:12] The Israeli military called it the largest coordinated strike in the current war, targeting more than [3:17] 100 Hezbollah sites. [3:18] Oil prices are plunging after the pause in the attacks in Iran, marking the biggest single-day [3:23] drop in years. [3:24] A barrel of oil hovered around $95 today, down 16% since the ceasefire was announced. [3:32] More than 400 oil tankers are sitting near the Strait of Hormuz, where traffic has yet [3:37] to fully recover. [3:38] Here's Rebecca Jarvis on what it means for gas prices here at home. [3:42] The bottom line right now for your money, the national average for a gallon of gas is $4.17. [3:49] Analysts believe pump prices could start reversing nationally in the next 48 hours by a few cents [3:54] every day if prices hold here. [3:57] Gas Buddies' Patrick DeHaan estimates that we see pump prices below $4 within two weeks. [4:03] In Georgia, Republican endorsed by President Trump will fill the House seat vacated by Marjorie [4:07] Taylor Greene. [4:08] Former DA Clay Fuller thanked President Trump, who paved the way for his victory in a runoff [4:14] over retired General Sean Harris. [4:17] But Harris' loss by about 12 points was a big swing to the left in a deep red district. [4:23] President Trump won it by 37 points in 2024. [4:26] Fuller will now serve out the remainder of Greene's term. [4:30] And one other election-making headline. [4:32] Liberals have expanded their control of the Wisconsin Supreme Court. [4:36] Judge Chris Taylor winning a seat on the High Court after focusing on abortion rights. [4:41] A decades-long serial killer case on New York's Long Island has come to an end. [4:46] Rex Heuerman maintained his innocence since he's being arrested nearly three years ago. [4:51] But today, he pleaded guilty to the murders of multiple sex workers. [4:55] Aaron Katursky was inside the courtroom. [4:58] This was a moment some families of Gilgo Beach victims have been waiting for, for more than [5:02] 30 years, to hear Rex Heuerman admit his guilt, admit that he is a serial killer who murdered [5:10] eight women during a 17-year killing spree beginning in 1993. [5:16] The hearing itself was rather clinical, a series of questions followed by one-word answers. [5:22] How did you kill her? [5:24] In violation, Rex Heuerman repeatedly said as prosecutors named each of the victims that [5:30] he was accused of killing. [5:32] And Rex Heuerman stood there with his hands in shackles behind his back in a dark suit as [5:38] his ex-wife sat in the back row bearing witness. [5:42] And outside court, she paid tribute to the victims and said the attention should be focused on [5:48] them and their families. [5:50] The Coast Guard has joined the search for a Michigan woman missing at sea in the Bahamas. [5:55] Her husband told authorities she fell overboard on their way to their yacht. [5:59] Her daughter is demanding a full investigation. [6:02] And new details about this massive warehouse fire in Southern California we showed you yesterday. [6:07] Police say an employee has been arrested on suspicion of arson. [6:11] The facility is a distribution center for brands like Kleenex and Huggies. [6:14] There are reports the fire could result in supply shortages of those products on the West Coast. [6:20] And we have much more of what you need to know. [6:22] Stay with us. [6:33] Here's your daily briefing. [6:35] Other big stories we are following on ABC News. [6:37] Jurors are deliberating after three weeks of testimony in the attempted murder trial of [6:41] Hawaii doctor Gerhardt Koenig. [6:44] Prosecutors say Koenig took his wife Arielle Koenig on a hike with the intent to kill her and [6:49] avoid a costly divorce. [6:50] They argue when he could not push her off a cliff, he tried injecting her with a syringe [6:55] and struck her in the head with a rock. [6:57] Koenig claims his wife attacked him first after a confrontation over an alleged affair. [7:02] If convicted, he faces life in prison, though jurors could also consider lesser charges, including assault. [7:08] A wild bench-clearing brawl erupted in baseball last night. [7:12] After a high pitch, the Angels batter went after the Braves pitcher. [7:17] The pitcher was seen throwing punches while holding the ball in his hand. [7:21] Both of those players were ejected. [7:23] There's a new effort to stop battery fires on planes. [7:27] Southwest Airlines will soon limit passengers to one portable lithium charger on flights, [7:32] and storing a charger in the overhead bins will not be allowed. [7:36] Nearly 100 battery-related incidents were reported on planes just last year. [7:41] And Greece will ban social media access for children under the age of 15 starting January of next year, [7:47] citing rising anxiety, sleep problems, and addictive platform design. [7:52] Australia became the first country to ban children under 16 from social media in December. [7:57] France, Denmark, and Spain are moving forward with very similar plans, too. [8:01] And new today, Lowe's is making a big bet on blue-collar workers. [8:06] The home improvement chain is investing $250 million to train electricians, plumbers, and carpenters, [8:12] saying artificial intelligence can't climb a ladder and can't fix your roof. [8:16] And consider this, 92 percent of construction firms are struggling to find talented workers. [8:22] And finally, before you go, a high school marching band from Ohio pulled off a dream performance at Walt Disney World, [8:29] despite a chaotic 24 hours leading up to it. [8:32] The band says their trailer was broken into after their drive to Florida, [8:36] with instruments being stolen just hours before their performance. [8:40] The marching band director and parents scrambled, [8:42] renting nearly every instrument they needed from local music stores. [8:46] One missing saxophone was finally secured, [8:48] thanks to another Ohio high school whose students handed one over in the middle of the night. [8:53] Pulled in about 12.30 in the morning, [8:55] um, and they hand, they handed us a sax, like, us like strangers, right? [9:01] Like, they just, here, take good care of it, we trust you, we're glad we could help. [9:06] By morning, every student had an instrument, [9:08] and the band marched down Main Street, proving resilience can steal the show. [9:12] And that's what you need to know for breaking news and live updates throughout the day. [9:15] Check out ABC News streaming on Disney+. [9:18] New episode streaming every day on Disney+.