Hear that whistling? That's the sound of water bottle demand plummeting.

What's happening to bottled water as demand falls? The price is plummeting.

So says The Wall Street Journal (subscription needed for full text).

Bottled-water makers have stepped up a months-long price war this summer to win back customers who have turned on the tap to save money and reduce environmental waste.

This month, PepsiCo Inc.'s Aquafina brand sold at some grocery stores for as little as $2.99 for a 24-pack of half-liter bottles -- less than a penny an ounce and about half of its typical price. Still, that wasn't as cheap as the private-label brand at supermarket chain Kroger Co., on sale for $2.49.

So they are dumping someone else's water on the market to get rid of a surplus they never should have gotten anyway. Sometimes this system just makes me nuts.