More important, high prices are finally making Americans use less gas.Consumers reduce their quantity demanded because of the price increase, but the subsequent reduction in quantity demanded will not lead to a decrease in price by itself. This is a mandatory question on all first econ 101 exams. The logic itself is circular: prices rise --> consumers reduce quantity demanded --> if this causes prices fall wouldn't the next step then be increased quantity demanded and higher prices?
If we use less, the price will come down.
Econ principles teachers of the world, weep.