Oil Falls below $55 per Barrel

Falling oil prices mean lower gasoline prices at the pump - what's behind the fall?  On Monday the price of a barrel of West Texas Intermediate fell below $55 and Brent crude fell below $60, both for the first time in five years.  "The fall in oil prices is led by slipping demand for oil due to economic slowdowns in Europe and Asia, as well as more fuel-efficient vehicles. But increased U.S. oil production is another major factor, as is a strong dollar."