What is pushing oil and gas prices lower?

Gas prices are at their lowest price in over four years.  Several factors have led to this decline, according to economic experts.  One of the main reasons for lower prices is the boom in domestic oil production.  U.S. oil production has risen 50% in the past several years.  Higher efficiency energy sources are contributing to the price drop as well.  Another reason for the low prices is overproduction by oil producing countries in oil cartels like OPEC.  OPEC controlled prices for years and kept them at an artificially high level.  The duration of low prices is uncertain, however, as some of the factors do not have a predictable outcome.

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