So the story says oil is at a 6 year low and yes gas prices have dropped but why not by much more ? If anything happens to make the price of a barrel of oil rise ( even a couple of cents ) you see that immediately at the pump, we are now at a 6 year low and although gas has dropped it did go up about 20 cents a gallon here last week although it has since dropped backed down to where it was.
Oil prices fell 2 percent on Monday, with U.S. crude hitting six-year lows, on signs of higher output in the United States and Libya and a possible nuclear deal that could end sanctions for Iran, allowing more of its oil into the market.
A market data provider estimated a fresh build of more than 3 million barrels at the Cushing, Oklahoma delivery point for U.S. crude futures last week, traders said, adding to worries that stockpiles in the United States could hit record highs for a tenth straight week.
In Libya, output has risen to around 490,000 barrels per day (bpd), double that of a few weeks ago, an industry source said.
http://www.foxbusiness.com/markets/2...nuclear-talks/