AAA in our area (Washington DC) reported a significant drop in the number of automobiles on the road this past weekend. It would be interesting to see how much this decline in demand has affected the price change at the pumps since then.
I've always contended when a certain price for gasoline is reached a tipping point would occur. People would just say, enough is enough, and quit pleasure driving, become very conservative, walk short distances, buy a bicycle, etc and supplies would increase, therefore driving down prices.
I didn't have an exact price in mind, but the past week indicates it may be the $3.00 per gallon price. Could be lower but time will tell.
The exciting part of this is the oil cartel may be shooting themselves in the foot with the high prices and the public may enjoy walking, biking, less driving etc. Hope so.