Is it our fault that gas/petrol is so expensive?

Question

if petrol prices are rising because banks/brokers/pension funds are investing in 'futures', does that mean its our fault? we are making profits for our investments/pensions by paying more for not just fuel, but all commodities moved by road/rail. The irony that we may have a good pension payout because we've paid more and more money out in the interim isn't making me smile......

Answer 1

The price of petrol is high due to high demand. The consumer (you) continue to drive gas guzzling SUVs and use gas as if there were no tomorrow. Then you got China and India who rode bikes and horses. Now, they got more cash than the US and a burgeoning middle class who want the same things as everyone else; a nice car, and house. Therefore, the price is the fault of the consumer.  I invest in futures and oil companies. If you speculate that the price of gas is going up tomorrow due to high demand and you are correct, you will make a profit, if it goes the other way around, then you stand to lose money. There is nothing wrong with futures and gas companies. The system hasn't changed, but demand has gone up.

Answer 2

It is partly our fault because we do not cut down on buying gas/petrol.

If we did the price would fall as petrol is really a surplus product in oil production which needs to be disposed of.

Answer 3

Unless you have some kind of control over the stock market, the Federal Reserve and politics, it isn't your fault.