Iran Deal Could See Gas Prices Drop
You might pay less at the gas pump because of Iranian diplomacy.
“Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month,” Tom Kloza, chief oil analyst with the Oil Price Information Service, told CNN. “By December a lot of places are going to see gasoline at $2 or less.”
Iran has been barred from selling oil to the United States since 1995, but now the Middle Eastern nation could add as much as 500,000 barrels of oil per day globally, driving the price down.
Despite the promise of low costs at the tank, it could take some time for consumers to see a result. The sanctions won’t be completely lifted until 2016, Vox reported. After Iran sells off its existing stock of oil, about 30 to 37 million barrels, it could take some time for Iran’s oil fields to start producing at their pre-sanction levels.
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23 responses to Iran Deal Could See Gas Prices Drop
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Obewon July 14th, 2015 at 23:20
World peace with Iran delivers POTUS Obama’s $2/Gal gasoline, leaving consumers with more disposable income to boost consumers 70% of U.S. Record $17.5 T 2014 GDP that grew 3% APR in the past year! “By December a lot of places are going to see gasoline at $2 or less.” as Iran sells off its existing stock of oil, about 30 to 37 million barrels.
Halliburton Cheney fumes at all that lost war profiteering and all those lives saved by BHO44’s successful diplomacy. “24/7 inspections are already in place. …No sanctions are lifted until the Iranian reactor is dismantled”-Rhodes Scholar, National Security Adviser Susan Rice.
Warman1138 July 14th, 2015 at 23:23
Sounds good but will the oil companies pass their savings on to the consumers without making up reasons not to?
Obewon July 14th, 2015 at 23:28
Well the oil companies better deliver on the ‘$2/gal Bachmann Prophecy!’ Or Michele will have to rely on her culinary skills. Hmmph.
katkelly57 July 14th, 2015 at 23:31
Like pbj sammies?
Tommie July 15th, 2015 at 00:09
Damn, that picture is disturbing!
bpollen July 15th, 2015 at 03:33
Bisexual political porn… now that’s a niche market!
The Original Just Me July 15th, 2015 at 03:44
That sausage fits her mouth real well. She must practice a lot.
katkelly57 July 14th, 2015 at 23:31
Also, with those savings, it would be easy for local gov’ts. to increase gas taxes for whatever strikes their fancy…hopefully it would be for infrastructure if they did increases.
My city charges 14 cents per gallon…dunno wtf the money is going, I’ve not seen any improvements anywhere.
Tommie July 15th, 2015 at 00:08
Straight to their pockets, and any savings that could benefit the American people, straight to their pockets!
The Original Just Me July 15th, 2015 at 03:42
Definitely !
The Original Just Me July 15th, 2015 at 11:27
I wonder if they need any suggestions of where to put those pockets ?
Tommie July 15th, 2015 at 11:29
LOL!!!
The Original Just Me July 15th, 2015 at 03:42
Idaho’s Gov. Otter-be-somebody-else, jumped the gun on this one. Seven cents a gallon so he could finance his annual tax breaks for his rich buddies. If prices do go down to a reasonable level, he will try it again in January.
The Original Just Me July 15th, 2015 at 03:38
Five bucks says all we see is the normal winter price reductions. But, they will blow it up to make the big oil companies seem like they are being raped. Poor Things.
The Original Just Me July 15th, 2015 at 03:36
Kind of deep but on the point. Thank You.
Chinese Democracy July 15th, 2015 at 11:03
That’s whats fun about Obewon’s posts.. You have to actually read them heh
The Original Just Me July 15th, 2015 at 11:25
He does get a little wordy at times but then so do I. At least the quality of his writings is far superior to the so called journalists of today.
Chinese Democracy July 15th, 2015 at 11:04
funny bush’s grab for oil in Iraq went totally awry …. And the deal conservatives hate is going to produce results
John Bolton is having a very bad day
William July 15th, 2015 at 02:21
Egad, didn’t right wing wacko-land predict gas at five bucks a gallon?
The Original Just Me July 15th, 2015 at 03:34
I don’t know about the five bucks a gallon but you NAILED the description.
ValianThor July 15th, 2015 at 02:34
And I’m guessing that Abedini, Saeed, Rezaian, Hekinati, and Levinson will agree that there is no sacrifice too great, if it means lower gas prices in the States.
eyelashviper July 15th, 2015 at 10:16
Oh noes, what has Obama done now…..???
Lower gas prices, the end is nigh!!!!!!!
amersham46 July 15th, 2015 at 20:19
Not if the oil companies can help it