What do you think makes the price of gas so high?
Is it the company making the prices go up, or is it another factor like, exporting/importing, etc.
I think it may be the fear that Libya may continue with it's war against it's own people, leading to an oil supply scare as the rest of the world has to go to war with Gaddafi.
Oil Prices are affected by many things. Supply and demand are the primary causes of price fluctuations. Speculators are another cause. Speculators can cause wholesale oil prices to shift drastically up or down usually in the short term. Production by the oil producing nations also has a huge impact on oil prices. Nations like Saudi Arabia, who have the most oil reserves, can affect the world price just by announcing production increases or decreases........even if the projected increase or decrease is not immediate. Likewise an announcement of a "new" oil discovery can push the prices downward to reflect the potential increase in the world's supply. In the end oil prices are affected by many things out of our immediate control. The last thing I will mention, in closing, is that the gasoline prices you pay at the pump contain something else that has a huge impact on the retail price......taxes...federal state and local governments all take a piece of the action and in doing so drive the price of gasoline ever higher....
Check out my hub - it's exactly about this:
by Aqeel Saeed 9 years ago
It fluctuate between $ 148 per barrel to $ 33 per barrel.
by Lgali 9 years ago
Oil Prices Going up Means Economy is Doing Good..
by Gary Anderson 6 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto … rum-2012-3Here is my response. We can thank libertarian thought for the...
by Ben Evans 8 years ago
We are in a recession and demand for oil has dropped yet we still see prices rise. This is while supply is actually abundant. Some people say there is a glut.Oil demand in economic terms is described as inelastic. This means that a rise in prices will not affect consumption or...
by movingout 5 years ago
I came across this today and its conflicting to what most people would think. What do you think?https://sphotos-b.xx.fbcdn.net/hphotos- … 1023_n.jpg
by Gary Anderson 7 years ago
Here is an eye opener and shows that you and I are getting ripped off by the banksters continually. Park the car until the prices come down. And even then you have to just kill demand. Anyway, here is proof that the speculators are hurting mainstreet USA just like they did when they set up the easy...
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