Why? It's a simple matter of supply and demand. Earth's overpopulation by homo sapiens, along with concomitant ever-increasing demand for gasoline, is what drives prices at the pump. Cost of crude oil is only related to the extent that, if it's too high for the supply chain to bear given gasoline prices that the market will bear, production of gasoline will stop. Otherwise, those driving cars -- the gasoline market -- have placed themselves at the mercy of oil companies. As long as human numbers keep increasing and "developing countries" try to "catch up" to those with a western lifestyle, i.e. two cars in every garage and a KFC drive-through for chicken, the trend will continue.
Originally Posted by Tom1956
With respect to silver commodity prices and silver halide photographic materials, a different dynamic exists. Demand is much more elastic. Depending on how the market reacts to a long-term drop in silver cost, manufacturers may be forced to eventually lower their prices or terminate production. However, there are other significant costs to consider, particularly oil. Unless the film/paper market considers these when deciding whether it is still willing to buy at higher prices, it might force manufacturers out of business. That would, in my opinion, be a classic example of knowing the price of all things and the value of none.