Perhaps we'll be seeing more drops in the coming weeks, what with the price of oil falling to around $60 a barrel. An average gallon of regular in the L.A. area is $2.932, down 4.5 cents from last week, according to the Auto Club. Oil is falling once more because the earlier reports of an economic recovery now seem a tad pessimistic.

*NYT has more on the fall in oil prices:

"The bottom line is that it's all about demand and the lesson here is that the recovery is going to be a long and bumpy road, and not a smooth and straight line," said Michael Wittner, the global head of oil research at Société Générale, in London. He expects prices could fall as low as $50 a barrel in the short term.