Oil prices have been going down steadily and consumers have been wondering why gasoline prices haven’t been following.

Part of it is obviously because your local service station has already bought its gas supply at a higher price and it isn’t until these stocks are depleted and replenished at a lower cost that you will see any savings at the pump. Another factor is that demand remains steady despite the price increases, which creates little incentive to lower prices. Eventually, as some stations lower prices others follow, which is what is happening right now.

Gas pump numbers finally have started to reflect the decline in oil prices with the national average per gallon of gasoline price down to $2.33 for regular. If that still seems high, consider last year’s prices of over $3 per gallon.