IT'S A TRADE DEAL:

American drivers may have even lower prices to smile about in the future, especially if an Iran nuclear deal is in place by this week's deadline. The national average gas price could return to nearly $2 a gallon later this year, said Tom Kloza, chief oil analyst at the Oil Price Information Service. The national average is currently sitting at $2.77.

For now all eyes are on Iran, which has the fourth biggest oil reserves in the world. A big part of the nuclear deal is that the West will lift sanctions on Iran, allowing it to increase its oil exports. That could be a game changer by deepening the oversupply of oil and sending prices down even further.

"You could have a bunch of crude hitting the market in 2016 -- probably when it needs it least," said Kloza.

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