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The stranglehold the middle east had on the energy market broke with all of the new pockets of fuel being discovered and tapped into a few years ago. They found themselves needing to drop their prices or get priced right out of the market. Especially when the U.S. greatly upped it's production with discovery of potential oil fields bigger than what the middle east has. Broke the hold they had over us with their tariffs and duties. I also believe that the regime changes and destabilization they've had in that area has forced them to sell at a price to bring funds in quickly.
It's really a combination of many factors that brought the speculated oil price down. Now it'll be interesting to see if the big energy processing companies will turn around later in the year and rail us hard like they are trended to do. The prices always spike in the summers. They drop prices in the winter then bring it back up higher than it was before in the next summer and slowly fuel prices have climbed annually this way. They always claim some form of disaster or loss to justify the price hike yet every year record record setting highs in sales. I remember a couple of times they almost got some negative action by the government.
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