The price of oil rose by more than a dollar Monday to surpass $94 a barrel. But that's after oil prices dove last week to levels not seen in several weeks. How then, despite the significant decline in oil prices, are gas prices rising?

In this video, MSN Money's Charley Blaine explains the disconnect between oil and gas prices and how high those prices might go.

Oil prices fell last week after investors became concerned not only about lower global demand in the face of weaker economic data in China and Europe, but also after minutes of a recent policy meeting suggested the Federal Reserve might soon end its quantitative easing measures.

Without the monetary stimulus, the dollar would strengthen, making crude more expensive for international investors. This could not only affect demand for oil, but also cut the supply of funds that fuels the commodities market.

Despite the drop in oil prices last week, gasoline prices rose. In fact, Blaine says, gasoline prices have risen about 15% this year. How is this explained?

Blaine discusses how refineries are a major force when it comes to determining gas prices and how what's affecting the industry as a whole is also impacting gas prices.

In addition, of course, market players such as traders and speculators have also been bidding up oil and gas prices at different times, and taking profits at others, creating the disconnect.

Blaine also projects how high gasoline prices will go and when the peak will be. While he projects a gas price close to the record, he notes that this assumes there is no war in the Middle East, which would invariably cause a spike in oil and gas prices.

The discussion about oil and gas prices and their relationship continues over in MSN Money's Facebook community.

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