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More and more are becoming available, more supply; equal/less demand brings the price down, proof will reflect.
PROOF
Sellers Below 2 Ref:
http://backpack.tf/classifieds/search/id/52b34a004dd7b86b088b4568
(x8 @ 1.66; quicksales x1 1.55; x1 1.44)
http://www.tf2outpost.com/trade/16758537 (4 for 1 Key; around 1.77 per)
http://www.tf2outpost.com/trade/16765140 (x2 @ 1.66 ref)
http://www.tf2outpost.com/trade/16706119 (1.66 ref)
http://www.tf2outpost.com/trade/16764812 (1.77 ref)
http://www.tf2outpost.com/trade/16773914 (1.88 Ref)
http://www.tf2outpost.com/trade/16756256 (1.55 Ref; Quicksell)
http://bazaar.tf/trade/609249 (1.44; Quicksell)
http://www.tf2outpost.com/trade/16775458 (1.88 Ref)
Sellers at 2 ref:
http://www.tf2outpost.com/trade/16749562 (x8 @ 2 Ref)
http://www.tf2outpost.com/trade/16779391
http://www.tf2outpost.com/trade/16758206
http://www.tf2outpost.com/trade/16706695
http://www.tf2outpost.com/trade/16771649
http://www.tf2outpost.com/trade/16760725
Feel free to add more proof or counter-proof and thanks for voting!!
up vote
I just bought for 1.33 today
1.66-2 ref is the right range for most trades