But retail prices show more variation. For that we'll turn to the commodity futures market. And it looks as if prices aren't going to drop significantly any time soon. That same gallon is going for about 65 cents today. The futures market expects unleaded to stay above 60 cents per gallon all the way to next summer.
Many people think so.
Petroleum producers, notably OPEC, would like to control prices. But they haven't had a firm grasp on production for years. Even so, they have managed to squeeze more profit per barrel. Oil consumption is up. North America hasn't used this much oil since the late '70's.