Why are gas prices still droppin like rocks?

[Gravity]

just filled up for $1.95.

kinda scary if you think about it... kinda make the economy feel comfy and then boost it back up to $5... i bet even SUV prices are now at MSRP

[GamerS]

I have to wonder.... I know a lot of it is because lots of assets are losing value, just like the stock markets, and oil is a part of that investment world. But OPEC has not really cut production yet, probably because the US asked Saudi Arabia not to and they probably have some control over the other member nations. I expect them to climb now that the elections are over. You know, if they could just keep the gas prices at $2, that would be a big help to the economy right there.

[Colby]

Because the dollar is rallying:

These graphs are more or less identical, showing that the value of oil is consistent, but the price is tied to the value of the currency, the dollar.

http://finance.yahoo.com/currency/conve ... amt=1&t=1y

http://finance.yahoo.com/echarts?s=OIL# ... ogscale=on

I used the euro as the "control" currency but as you can see it causes minor differences in the two graphs but they are more or less the same thing.