Could falling gasoline demand help drive down prices?
— the average price of gas hadn’t gone north of $3 a gallon for roughly eight years, a recent 80-cent dip isn’t enough for many to return to their normal driving patterns, upending a long-held belief that demand for gasoline doesn’t change with its price. The longer they hold out, the more likely they’ll help tamp down demand for fuel, further cutting the price.than at the same time last year, according to the Energy Department. That’s helped drive down the price of gas from its peak of $4.
The 62-year-old said that though she drives a moderately fuel efficient Mini Cooper, she has turned down jobs she felt were too far away. In past summers, Hirdes, his wife and their 7-year-old son drove to visit his in-laws at their beach home. But because of their jobs, he and his wife have to take separate cars, so this year they’re making fewer visits. Instead, the in-laws have come to them, pairing their Houston trip with a doctor’s appointment or other activities.
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