U.S. drivers can look forward to seeing $2 gas again during the latter part of this year, thanks in part to the Iran nuclear deal announced Tuesday.
Analysts believe that gas may only dip a few cents when Iran starts to sell the U.S. oil again, but by September drivers can expect to see prices go down several cents a month, according to CNN.
"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."
Records from the Federal Register reveal that Iran hasn't been able to sell oil to the United States since 1995, due to sanctions imposed on the nation to curb its nuclear program, according to NBC News affiliate 14 News. Instead, it has been selling to China, India, Turkey and other developing markets.
It's unknown how sanctions will be lifted, and some critics in Congress want to keep U.S. sanctions intact, but President Obama vowed to veto any such attempt. Even if the sanctions stay intact, with increased exportation of Iranian oil to Europe, prices will fall in global oil markets and, in turn, lower prices in the U.S.
Gas prices at U.S. stations currently average $2.79 per gallon of regular unleaded gasoline, according to AAA.
The $2 gas that analysts predict will match a low point for prices that hasn't been seen since last winter.
