I think falling gas prices as well as falling oil market prices do represent deflation. That is, a reduction in the number of dollars chasing this resource that, though relatively plentiful, does have a real limit on the rate it can be supplied. This is just the opposite of the expectation of soaring prices that many, including myself, expected when we were moving up fast through $4.40 a gallon.
The lull in gas (commodity) prices is because other currencies are in worse shape. However, we’re look at something totally new: a world-wide collapse of ALL currencies. The dollar will fall (near?) last, but when it does, the whole world will fall with it.
And then we’ll see blood. Seas and messes of it.
PS This is largely by design of Soros, his puppet obama, and their ilk. They think the collapse will let them become Lords of the Earth. Well, Soros is getting way old, and obama is just a puppet to be tossed to the side when his usefulness is over. Won’t get into who the real Power behind this is, but if you’re Christian, read your Bible...
Gas prices might be less than they were 4 months ago, but they're nearly twice what they were 4 years ago.