i didnt read a single reply (due to time) so i apologize if I repeat what somebody else has said. Also, I am not an expert on any of this shit, so don't try to pin anything against me, because i don't care. If you have a better point, or a more insightful one, or a correct one, then that's chill.
With that out of the way, of course this will not last.
In my totally unprofessional unknowing opinion, this is a reaction of several things, most notably the inflation from speculation we saw primarily over the summer. Much like the dot com shit of the late '90s, oil was the thing to do, so... speculators speculated the shit out of it, so it skyrocketed. But when it popped, which was bound to happen, it was an explosion.
Of course the spec came from so much different shit, including, but certainly not limited to, war in the middle east, sketchy iran and isreali situation (tensions are always high), a plummeting U.S. dollar, ethonal, importing oil, greed, etc etc.Well, some of those things have been lessened, most notably the strength of the dollar, which has soared against pretty much all, including the despised Euro, and the much beloved CAD.
Hurricanes didn't do shit to offshore rigs.
It's an election season. I bet the day after the election you'll see a spike in the price per barrel, just because everybody is a pussy.
Also it is autumn, soon to be winter, and gas always gets cheaper during this time.
Provided some unforseen disaster or some crazy WWIII, oil will go back up, but I doubt it'll blow up like it did this past year, but it is certainly possible. If there is more domestic production (in the U.S.) coupled with some new techs that will hopefully come down the pipeline at some point, then that should hopefully keep a buffer on just astronomical prices, if anything.
But you have good ol OPEC countries which are just shitting themselves with lost incomes after banking on astronomical oil, so I know they've been talking about cutting production to keep the prices a bit higher, and who knows what else. If those assholes go overboard... well... what can we do? I bet they'll definitely do some shit next year and beyond to artificially keep the prices high.
So yea, gas will go back up again. I'm loving the drop and I'll take it, but it certainly shifts focus away as though it is no longer a problem, which is super dangerous, because it is just a sleeping beast for the world for now.
But I like paying $2.60 a gallon. Less would be nice, too.