Coming Soon to a Gas Station Pump Near You … Oil drops below $52 a Barrel

So much for the theory that the price of oil only declined because President Bush and Carl Rove wanted to win the midterm elections for Republicans. Turns out that nature actually has more of an effect on the price of oil than an Rovian conspiracy.

NEW YORK (AP) — Oil plunged below $52 a barrel Thursday to its lowest price since May extending a sharp decline that has been led by dampened heating oil demand, but which could save consumers money on a more widely used fuel: gasoline.
Crude oil has tumbled by 15 percent so far this year in a huge sell- off that was kicked off by investment funds last year, and then stoked by a historically warm U.S. winter that has left supplies of heating fuel barely touched.