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What do you think makes the price of gas so high?

  1. Alexander Pease profile image61
    Alexander Peaseposted 7 years ago

    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.

  2. earnestshub profile image87
    earnestshubposted 7 years ago

    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.

  3. point2make profile image82
    point2makeposted 7 years ago

    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....

  4. profile image49
    AnielaSofiaposted 6 years ago

    Check out my hub - it's exactly about this: