Gas may only dip a few cents when the Iranian oil first starts to flow again, but by September drivers could see big savings.
“Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month, ” said Tom Kloza, chief oil analyst with the Oil Price Information Service. “By December a lot of places are going to see gasoline at $2 or less.”
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Iran hasn’t been able to sell oil to the United States since 1995. Most major Western countries imposed sanctions within the last five years aimed at curbing Iran’s nuclear program. Instead it’s been selling to China, India, Turkey and other developing markets… READ MORE
CNN MONEY, By Chris Isidore
