The price of oil isn't an exact correlation to gas, but it dropped under $50/barrel. It's not projected to be back above $60 anytime soon. But the Saudi's could cut back production anytime they want and gas would pop overnight. Doubt that they will though until there is carnage in companies involved in alternate sources of energy and oil production methods. I'll be surprised if gas is $3 anytime soon.
The price of oil isn't an exact correlation to gas, but it dropped under $50/barrel. It's not projected to be back above $60 anytime soon. But the Saudi's could cut back production anytime they want and gas would pop overnight. Doubt that they will though until there is carnage in companies involved in alternate sources of energy and oil production methods. I'll be surprised if gas is $3 anytime soon.
If they cut production and oil prices go up tomorrow, then gas prices will go up the very next day.
If they cut the price of oil, then the price of gas goes down. Three months later.