Gasoline prices

Southeast Missouri motorists are enjoying the lowest gasoline prices in more than four years. After reaching the $4-a-gallon level earlier this year, prices have dropped under $1.10. Some analysts, watching the worldwide oil market, suggest the pump price for 87 octane regular gas could touch $1.

And then ... .

Along with all the other financial news we are exposed to on a daily basis, we have learned quite a bit about oil markets and international cartels.

On "60 Minutes" last week, the Saudi Arabia oil minister made it clear that oil-producing countries like his own don't intend for oil prices to stay low. Considering Saudi Arabia controls the world's largest oil company, whatever Saudi Arabia wants is likely what it will get. The oil minister said he expects oil prices to eventually settle somewhere in the $75-a-barrel range, which is about half of the top price this year and not quite twice as much as the current price.

One of the biggest factors in the low gas prices is demand. As prices soared higher and higher during the summer, motorists found ways to use less and less gas -- billions of gallons less.

Typically, when prices respond to a drop in demand, consumers buy more of a product. But with the U.S. recession and global economic downturn, motorists aren't buying as much gas even at today's low prices. And this is helping to keep prices down.

Unless there are dramatic and unseen economic shifts ahead, expect to see gas prices start to creep up in the not-too-distant future. For now, enjoy the fact that there is more money left in your wallet after you visit your local service station.