How is it that Gas prices stayed under a dollar for nearly 40 yrs, now they have reached $4-5 w/in 4 yrs???

Question

Inflation is getting ridiculous. I'm having trouble living a normal, modest, everyday American life....

Answer 1

value of dollar tanking worldwide, speculators on commodities market since 2002

Answer 2

Becuase the Arabs hate us, and especially our president. They are trying to make us so miserable we will vote for the candidates they like. I.E. Hamas has endorsed Barack Obama for the American Presidency.

Answer 3

In a word, greed.

Answer 4

The demand for it is alot higher.

Answer 5

Because for nearly 40 years the rest of the world lived in mud huts and didn't have 2 nickels to rub together. Thus leaving the United States as the only major consumer of oil. Thus keeping it cheap since we consumed far less than world output.

Now we have many countries industrializing with growing and prosperous economies. Those people have money in their pocket and are moving from Mud Huts to 50 Story Condos and driving BMWs instead of bicycles. Now they are consuming more and more of the world's oil. The lack of supply and growing demand is causing prices to rise. So thanks to a prospering world economy gasoline is no longer a cheap source of energy.

Answer 6

Pretty much what Alby said.  Although 4 years ago gas was not $1, it was $2.05 17 years ago.

Add on the fact that all gas and oil is sold on a world market and the US dollar is at an all time low.  This means all import prices go up even if the world price doesn't change.

Your politicians and banks drove the American dollar into the ground, making everything more expensive.  Supplies of oil are not growing, and demand is, and whoever is willing to pay gets it, so prices are going up all over the world.  Those two combined make for some very rapid growth in gasoline prices in America.

Answer 7

DEMAND MY ***!!!!!!!!!!

Corprate greed, government corruption, opec nations, and

oil speculators.

Lack of the US government to place more incentives out there for alternatives to fossil fuel, when they knew this was coming 30 years ago.

Corprate greed by companies like EXXON mobile

118billion in the first quarter of 2008 in gross profits

9 billion in net profits .

thats just one company.

add to that our US government leaders with BIG BIG hands in Foreign oil hmmmmmmmmmmmmmmmmmm

Cheney and Bush both  interesting  that they both have hands in Oil production isnt it.

The Bush family made their stake with OIL

Cheney was the CEO for haliburton, whom just so happens to be getting massive contracts world wide for what??

Supplying Oil production companies in hmmm

South America, IRAQ, AFGHANISTAN. Interesting

It was already quoted by the Current CEo of Haliburton that they would not have the contracts they have had it not been for Cheneys contacts WORLDWIDE in the oil business.

Before anyone attack me for saying this please look at the governing bodies for Haliburton, also look at BUSH family HISTORY, go way back to Bush;s fathers history, and read .

look at

Bush's family history in what companies.

Look at the Current Leadership of Haliburton

Look at the History of Cheney.

Look at the Contacts made by George W Bush in school

and the documented visits to the govenors mansion when he was in texas, ( the list is under the disclosure laws , so it is public). write done the names form the list and look where those people many of them are now, and what they do.

Then tell me why oil is high, and our economy is c**p .