According to news agency Reuters, the cost of oil has free-fallen by $2 a barrel today. One barrel of U.S. crude was recently (4:55PM Zulu Time) priced @ $54.62. Brent crude was @ $54.10 a barrel; marking a 19 month low in the cost of oil.

Credit was given to the unseasonably mild winter that's easing home heating oil demand in the Northeastern United States - the world's largest such market. Bears might have predicted a price increase due to Russia's recent decision to suspend oil flow through pipelines to Belarus (and subsequently on to Germany).

However, the motorist should note that costs at the pump have remained relatively stable at their current inflated levels despite the drop in oil prices. It would seem that when the price of oil goes up - a (statistically speaking) positive relationship is quickly assured for the price of gasoline.

But that same positive relationship is not assured when the cost of oil goes down as the price of regular unleaded at gas stations in my own region have remained fixed @ around $2.40 per gallon.

The same trend can be observed nationwide and doubtless much of the rest of the West.

Hmmm...