As the demand for oil continues to decline the price of oil is declining right along with it. The price of oil has already dropped to under $114 for the first time since last May.Crude prices had been dropping quickly in recent weeks since the record high in July.

Oil prices then took on a somewhat limbo stage going up and down in small increments while the world sat back and watched what was going to happen with the conflict between Georgia and Russia. It was thought that this may disrupt the supply causing prices to jump even higher. The situation seems to be coming under control however, setting nerves at ease at least somewhat.

The market is still fluctuating but could become more stable and the price of crude oil may well get back down to under $100 a barrel. It has not been under $100 a barrel since early April.