Gas Prices Drop by Average of 6 Cents - Yahoo! News
Why am I not buying the reasoning here?

CAMARILLO, Calif. - The average gasoline price nationwide for all grades tumbled 6 cents in two weeks, continuing a slide in pump prices that began last month, an industry analyst said Sunday.

The average retail price for all three grades dropped 6.37 cents to $2.18 per gallon between May 6 and Friday, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.

The most popular grade, self-serve regular, was priced at $2.15 a gallon, while customers paid $2.25 for midgrade. Premium averaged $2.35 a gallon for the period.

Average gasoline prices spiked 49 cents per gallon between Jan. 1 and April 8, when prices began to drop as a result of several factors including an increased supply of both crude oil and gasoline and the completion of some maintenance projects that had reduced capacity at the nation's refineries.

Oil prices began skyrocketing in March, hitting a peak of $57.27 a barrel at the beginning of April. Prices have since receded and now hover above $47 a barrel.

The highest average gas price in the nation for regular unleaded among the stations surveyed was $2.51 a gallon in San Francisco. The lowest was $1.94 in Jackson, Miss.

What do you want to bet the China and India's demands for oil, the excuse for the big price increase in the late winter, have not dropped off one bit, and probably have actually increased? So how come there is an "increased supply" now? It seems to me what happened is this-

The "people" started to bitch a little too much for Republican comfort, so Big Oil dropped back a bit on their record taking profits. They will settle for $6 billion this quarter instead of $8. A 30% increase instead of 40%.

Just a hunch.