Jolly_Rancher

So Much for Gasoline Demand Destruction

First, it doesn't take much demand destruction to have a very large impact on price which is determined at the margin. Second, we are benefitting from the big slide in world demand for energy. So you need to examine global demand for oil. As refiners' cost for oil falls, they lower gasoline prices due to competitive forces. You also might want to take a look at natural gas consumption. There's may be some predictive value there, as natural gas may lead the way. But natural gas prices continue to drop also.