What happened to gas prices when will they go down?

Question

I don' t have time to make an account so I'm using my brothers.

I got my car last year and I LOVE driving alot. I used to go on joy rides just for fun. But now its almost impossible to even get to school with gas being $4 a gallon. When will the prices go down??

Ive been addicted to cars and races ever since I was very small and with the prices going up I cant enjoy driving around or even go to the track anymore. My parents give me a small allowance a month and they wont give me more as gas goes up because they say I need to spend it wisely, but Im not even going to tracks or anything anymore! I barely drive at all, stay home all day bored and Im still not able to afford gas just to get to school. Ive run out of gas more then 7-9 times in just this month alone stuck on the road.

I cant get a job either because they want me to focus in school.

When will gas prices stabilize or go down?

Answer 1

instead of driving, how about biking? it's good for your health, and sure, it may seem hard the first few times you try it, but once you bike for about 10 of 15 times, you'll get the hang of it. also, if you have an SUV, you deserve to get stuck on the road all the time. that's bad for the enviornment,it wastes way to much gas, and if you get a car instead, you'll spend less money on gas, while helping the enviornment. to answer you question, the prices on gas will never go down. i will just give you advice to buy a fuel-efficient car,(a.k.a. toyota yaris or chev. aveo, etc.)

Answer 2

Bjotnol's analysis is completely wrong.  The US Dollar has grown roughly 10% weaker over the last year, but oil prices have nearly doubled.  A weaker dollar only explains a small part of the oil price increases we've seen.  It also doesn't explain why Europe has seen skyrocketing gas prices when the EURO has been going up.

I personally believe oil prices have been driven way up by speculation.  Oil and other commodities like gold are the new "bubble."  

Back in the late 90's, tech stocks were the bubble, and it popped in 2000 / 2001.  Then investors started investing in housing and created the housing bubble.  It's now popped too.

That's just about when the oil and commodities bubble started.

I don't really know when, but I do believe high oil prices will come down dramatically when the bubble pops.  My guess is that prices will stabilize at the $70 to $80 per barrel range.  It may take a year, or two.  When that happens you'll see gas drop down to $3 per gallon or maybe a little less.

Answer 3

go down? never...

stabilize, they are pretty stable now...

Answer 4

I'm sure Pedro is joking, but for real, to everyone out there--do NOT suck siphon gas out of cars.  The concentrated fumes alone cause permanent lung damage--there used to be horrible cases of it years ago in teenagers.

As for your addiction to cars and racing?  Let it go for now, focus on school, and think about cars and racing again when you have an income of your own.  The price of gas will not go down in the foreseeable future.  In the meantime, watch racing on TV with friends, like all the ex-high school football players watch football on TV.

Answer 5

As long as anyone can purchase oil futures we are all screwed.

Answer 6

Be glad you have a cheap hobby like auto racing, not an expensive hobby like equestrian or yachting!

Answer 7

when u drive to school pick up other kids and charge them for the ride...i did that and got to drive for free..get a siphon hose and suck some gas out of mom and dads cars...they are the ones not letting you work..this is the way to thank themLOL

Answer 8

the gas is going to just keep going up.. i heard that around summer it should go down. but from now til whenever that is it will be high and well still be paying alot.. it sucks.

Answer 9

I would not expect gas prices to go down unless the government decides to remove all taxes off it and even then it would just be a drop for that and then continue moving as it was.

One of the problems is the US government/Federal Reserve has been flooding the market with money and so is significantly devaluing the US dollar. So, to some extent, it's not oil costing more so much as it's the dollar buys less.

It could potentially stabilize depending on US monetary and other policies.