Drivers are paying nearly 70 cents less for gas than they were a year ago, and the price at the pump is expected to begin dropping again this fall.Prices could tumble close to $2 per gallon by the New Year, analysts said.
Patrick DeHaan, a senior petroleum analyst at GasBuddy.com, points to possible easing of sanctions against Iran under a proposed nuclear deal and a slowing Chinese economy for growing global oil supplies.
In Iowa, that could lead to gas prices inching closer to $2 by Halloween, with the statewide average under $2 a gallon by 2016, he said.
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