>>Recently the demand level has gone way down here (a first) as a result of the higher prices (according to experts and media sources) and we have been preached to for years that the only way to bring oil prices down is to decrease our demand yet the prices are still expected to double during the next year. I suspect demand has gone way down around the world as well as a reflection of the high prices.
>
>http://www.eurotrib.com/story/2007/10/26/14216/498
>
>For the rest of the world it is a level reached once before (in barrel per Euro and oversimplifying that the greenback fell against all currencies.
>
>Have not checked the figures for demand, as consumption # demand if stockpiles are filled to highten national security<g>. And yes, somehow our gasoline prices are much higher than in mid 2006 even if tax increases are factored in, and the rising oil prices are cited as a reason. Similar public opinion correcting measures could be seen recently here when milk prices were "raised" after a "strike".
>

World oil demand is growing up strongly due to China, India, etc. These countries subsidize domestic oil prices so customers do not feel price pressure.