Iranian Deal Means Gas Prices Falling to $2 or Less by December
The United States and Iran have signed a nuclear deal after many months of negotiations. It seems to be a good news bad news situation. For Israel and Republicans it’s bad news but for President Obama, it’s good news.
It’s a good news bad news situation for the American people too. The bad news is, can we trust the word of Iran to abide by the ‘nuclear arms’ agreement and not make nuclear weapons and only develop nuclear power. Big question!
The good news for America is, as part of the agreement the United States will lift sanctions against Iran that have been in place since 1995. By lifting the sanctions, Iran will start to export ‘oil’ to the U.S., and that means our gas prices are expected to go down.
Experts are predicting gas prices in the U.S. will drop to $2 or less a gallon by December this year. As Iran starts to export oil to America we should see gas starting to drop 10 to 15 cents a month once we get past Labor Day in September.
The question here is does the good news outweigh the bad?