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Gas prices will dive soon as the political heat gets turned up.

By the time you read this, gas prices in San Diego will have already started to decline, and the more you delay, the less you'll pay at local pumps.

Today was a wild and historic ride for oil prices and wholesale gas prices.  So much so that the the oil in a gallon of gasoline costs 33¢ less per gallon today than it did on Monday.

According to legend, the original "wall" for "Wall Street" in New York City was constructed to keep wild pigs out of the marketplace. But today, it was the was the "oil hogs" that went hog wild in a frenzied run from commodities - especially oil and gasoline.

By way of example, on Monday, oil cost $114 a barrel, yet today it belly-flopped below the psychologically critical $100 a barrel mark, closing at $99 - the lowest price since March 15, 2011.

So what happened?

Some say it is the recent demand figures showing demand destruction for oil and gasoline along with unusually bad employment numbers. Others say it might be the "Bin Laden Effect."  Our opinion is that part of the current nosedive  below the all-important $100 benchmark is the threat of a looming Federal investigation into market manipulation and price gouging.

Not that there's any chance of a REAL investigation, but the traditional response by the oil industry to any type type of government inquiry into price fixing, market gaming, or market manipulation is a sudden and almost magical drop in the price of oil and gasoline.

The "Political Heat to Price" factor

In other words, political heat translates into lower prices. The "Heat to price" factor isn't the whole story on the current plunge in oil prices because other commodities, such as silver, were in a freefall today too, but it is an important part of the equation. Especially frightening to Big oil is the threat by House Speaker, John Boehner (R), to repeal massive tax breaks for the oil industry.  He isn't serious of course, but his voters are, and that threat is making the oil companies very nervous.

We've been watching this cycle for 15 years. As soon as the political heat and rhetoric are turned down, gas prices will rise.  This isn't over yet. In the meantime, you can personally benefit by buying as little gas as possible, because chances are that the gas you buy today will cost more than the gas you buy tomorrow.

Watch for cost-cutting at unbranded independents. Many of these gas stations have seen wholesale price decreases of as much as 20 cents a gallon in the last 24 hours.

See related story from Oil Companies are making more money by selling less gasoline

See also, Union Tribune story: Wait! Don't gas up unless you have to

See also, North County Times story: Investigations could push gas prices down