Are the gas prices gonna go higher?

Question

Are the gas prices gonna go higher?

Answer 1

I wouldn't be surprised to see 5 dollars a gallon.  It's $3.39/gal here.

Answer 2

Yes, they will continue to rise until the current political administration in Washington DC leaves office.

Answer 3

Yes.

There are a number of things that can be done about gas prices. The problem is that there are political, environmental, and legal issues that would have to be overcome to make it happen.

First, we need to reduce dependence on imported oil. As a world wide commodity, changes in oil demand anywhere in the world will impact our prices here. We could reduce oil imports by increasing the use of ethanol. Currently something like 25% of the US corn crop goes to this. However, the downside is that this takes corn out of the stockpile for food (both human and animal feed), which is currently causing famine to break out around the world. We could expand domestic supply, but hat means drilling for oil off the Gulf coast and in a part of ANWAR, which has environmentalists up in arms.

Second, we could improve the distribution of fuel in the US. Currently, there are dozens of gas blends, all mandated by law. It is a tricky thing to supply just enough of each blend, as you cannot use a blend intended for, say, Colorado, in California. So if California goes in need, oil companies cannot shift inventory, they have to shut down refineries, make adjustments, and make more of the California blend. This is a wasteful and expensive process. Far better to have a single blend that all the states can agree on that would allow the fluidity needed in the market. But this is going to be difficult to impossible as the states want THEIR blend and will fight any kind of Federal mandate.

Third, I think we need to encourage those things which will get us away from oil consumption. Not much oil is used for electricity generation, but it can and should be replaced by more efficient, cleaner sources. But nuclear, coal, solar, wind, and hydroelectric all have their own problems as well and each industry will fight hard for their slice of the pie. Most oil is used for vehicle fuel. We need to move to more efficient vehicles and alternative fuel / hybrids, but they are often more expensive than gasoline powered vehicles and some alternate power sources do not have the power necessary for today’s driving. Research needs to be done in fuel cell technology, advanced batteries, and efficient (and safe) hydrogen generation.

I think too many people focus on one thing (conservation, more oil drilling, whatever) and think that alone will solve our problem. They are wrong. It will take a comprehensive approach were everyone will have to give a little for the greater good. Rep. Kennedy is going to have to sacrifice some of his coastal view in MA for wind turbines. Oil companies are going to be allowed to develop domestic sources. States are going to have to grant the feds the power to set uniform fuel standards. This is a lot to ask for, but this and more is what it will take. Anything less then an across the board rethinking of our energy policy will be like slapping a band-aid on a cut artery; just too little to be effective. And if it is ineffective, then expect the President of Iran to be correct when he says that oil is a strategic resource that needs to find its true (and in his mind MUCH higher) price. This is the guy that thinks $200 a barrel for oil is not unreasonable.

Answer 4

sure are. the supply is rising, the speculators are driving the price now. very rich people getting richer at your expense.also known as greed

Answer 5

Yes.  Then they will go down again in the fall, and then they will go up again in the summer and down again in the fall and up again in the summer.  

The only thing that will interrupt the annual upward trend is peace in the Middle East, and that would only knock it back a little bit.  Otherwise, it will be more expensive every year from now until the end of time.

Answer 6

Gas always goes up during the summer and it will slowly go back down after summer. The only reason gas continues to rise is because we continue to purchase it. Its called Supply & Demand right now demand is slowly going down as the price rises. If we could limit our gas buying for a couple weeks the prices would start to decrease because the oil companies would have a huge supply and need to get rid of it buying lowering the price. Which would cause it to go back up because of all of the demand.

Answer 7

Yes.

I'm going to buy a horse and ride him to work, and if you want to hang on, that's cool, but you have to help pitch in a few bucks for the straw.