It’s been going down for three weeks now and has lost about two-thirds of what was gained in that surge in February. Why? That’s really anyone’s guess. But if the February surge was due to fears of the Strait of Hormuz being closed, the April slump may be because it has sunk in that that isn’t likely to happen. The monthly average (below) is almost back to where it was in February. But note that this is still way above the January average and the monthly averages that prevailed through most of 2011.