Spring, Texas - Just Click Spring

For the first time in 26 years, the US is experiencing the biggest drop in oil demand. The demand fell by about 800, 000 barrels a day, on average.

The drop in demand is contributed to the slow US economy and the high gas prices at the pump. The drop is helped with the 1.3 million a day increase coming from nonindustrial countries around the world.

Experts believe the oil demand will continue to fall and is predicting even less use of oil by the US in 2009. The US is only expected to us 20 million barrels a day, the lowest since 2003.

And though the drop in oil demand has brought down the price of gas at the pump, it is warned that heating fuel costs will be higher this winter.

Oil is currently going for $113 to $114 a barrel.

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