The causes and consequences of oil's sharp price drop, explained in 90 seconds

Here&#039;s why gas is so cheap, briefly

(Image credit: BBC/YouTube)

Unless you never drive and don't pay attention to the news, you know that oil and its byproducts — see: gasoline — are much cheaper now than a few months ago. To help explain why oil prices have plummeted, and some of the winners and losers, BBC News put together this very short explainer video, replete with infographics and ambient music. One small quibble: Have airline tickets really dropped at all? —Peter Weber

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.