I am trying to decide whether to take credit for the decline in gasoline prices all across Amarillo.

My wife and I recently purchased a hybrid automobile, a Toyota Prius. It runs partially on gasoline and partially on electricity. It’s a nice little rig, a 2010 model with about 71,000 miles on it. A young sales rep at the auto dealership where I work told me the engine “won’t even get broken in until it hits 100,000 miles.” Good to know.

I filled up today. We went nearly two weeks since topping off the tank in the little bugger. The car consumed 3.6 gallons of gas during that time.

I’m not an economist, but I do understand a couple of basic principles. One of them is that when demand goes down, supply goes up. Another is that when suppliers have too much of something to sell, they tend to mark down the price to reduce their inventory.

President Obama touched on all of that Thursday when he toured a steel plant near Cleveland, Ohio. He talked about the decline in fossil fuel consumption and the decline in oil being imported into the United States, coupled with the increase in renewable energy and increases in fuel-efficient automobile production.

Do you see a pattern there? I do.

My wife and I believe we’re doing our part with the purchase of our hybrid car.

Look at the gasoline pump prices in Amarillo. I have read data that suggest the price could fall even farther, again as supplies increase because of reduced demand. My hope is that people don’t start driving a whole lot more as gasoline becomes more affordable.

OK. That settles it. I have decided to take some credit for the price decline.