Who REALLY controls gas prices?

Question

Who REALLY controls gas prices?

Answer 1

I agree with the answer of "Dink."  My addition would be that the demand push inflation from the emergence of China and India is not a myth created by some oil producers to cheat the public.  Take a moment on August 8, 2008 to watch the story surrounding the Beijing Olympic ceremonies.  Look for the automobiles on the streets of Beijing.  This should be better proof than a stranger's opinion.  I notice some people think the government can move the price independent of market conditions.  It really is not a political conspiracy.

Answer 2

Government.

Answer 3

the government and someone or some countries that have oil and makes petrol in OPEC company,but some countries that buy oil and petrol , they have to accept the price!

good luck!

Answer 4

opec  they r not nice

Answer 5

A big problem:  the US Dollar has been devalued by over 30% since the start of the Iraq war.  When the Dollar falls, commodities like oil and gold go up.  President Bush and the then Republican Congress debased the dollar by having a policy of low taxation and high military spending.  If you think about it: the Republicans gave you the ultimate tax in the form of inflation, and that is reflected in the price of oil.  No Republican family values c**p is going to save us from this mess!

Answer 6

The free market.

Answer 7

its all really a big conspiracy........the government and the oil companies or in cahoots

Answer 8

The market and god!

Answer 9

The guy who puts the numbers up at the gas station.

Answer 10

yo mama

Answer 11

There is no one entity that controls fuel prices. It can be any or all of the following cases:

1) Speculators in the futures market.

2) Government fuel taxes and/or regulations.*

3) Unwillingness of the US government to open new drilling areas.

4) Surge in oil demand in China and India.

5) Fear of conflicts in oil producing regions.

6) Unknown factors.

*The US government makes in excess of 20% per gallon of gasoline or diesel. Talk about excessive profit!

What it all boils down to is Supply and Demand.

Hope this helps.

Best wishes. :o)

Answer 12

The oil companies

Answer 13

OPEC and the GAS Cartels, as epitomized by Bush, Cheney, and the Saudi Parasites

Answer 14

christobal

Answer 15

The people with the power to start wars and cause the supply to dwindle. War profiteering is as old as war itself. Every time you hear about wars wherever they are there is someone taking advantage.

Answer 16

i think one of the middle east countries. maybe iran, afghanistan, well, they certainly have a lot to do with it.

Answer 17

the supplier, middleman and last the government

Answer 18

The more important question is why is North America paying  'world prices' when most of the oil and gas comes from Canada, and  American companies own and produce oil and gas....and the cost has very little to do with the middle east...?

Answer 19

the rich people!!!! so the poor people can not afford it !!!

Answer 20

The price of oil is controlled through the open market.  The price is driven by the speculation of future supply and demand.  This speculation can be fear of war, refinery shutdowns, OPEC oil production changes, and changes in world usage.  Each investor speculates based on their projection of future oil prices going higher or lower.

So at least part of the blame must be on the media for continually predicting gas prices to rise quickly.  It adds fear to the market and creates a self-fulfilling prophecy.

Answer 21

ANYBODY WHO WANTS GO MAKE OUR LIVES MISERABLE OR MAKE US LIVE ON THE STREETS PROBABLY!!!!!!!!!!!!!!  LETS PROTEST OR GO ON STRIKE!!!!!!!!!!!!!

Answer 22

did you know president bush owns oil ,he's almost out of office he's trying to get as much money as he can .Come on he needs something to fall back on .

Answer 23

Supply and demand primarily.  Did you know that a barrel of oil changes hands as many as 20 times between the time it is pumped out of the well and the time it gets to the refinery?  Each time someone makes a profit on it.  And, the supply is easily controlled by OPEC, the oil cartel, that provides the bulk of the oil in the world.  Additionally, political unease - as  in the middle east and Iran - cause speculators to bid the price of oil up fearing an interruption in supplies.

Answer 24

idk but in buffalo the gas prices are ridiculous

Answer 25

no no no.. supply and demand have very little do do with it, trust me i took MACROECONOMICS the people who make the gas prices so high are the people who invest in it. they buy oil then sell it   at a higher and higher price.. so don't beleive it the saudi arabian or iraq or some garbage

Answer 26

The freggin Government.

Answer 27

look up the name Lindsey Williams on the net- then go to the youtube link- he explains it clearly. when you hear everything he has to say, you will know who controls the gas prices and why.

Answer 28

Supply and Demand has absolutely nothing to do with it.. The reason I make that statement is because there is more supply than demand. People out there think that OMG we are going to run out of gas.. Far from it. It is the FAT CATS that own the oil companies

Answer 29

Nobody, OPEC could make it go up by not pumping oil, but what controls gas prices is supply and demand.    Speculators are just responding to the perception of supply and demand.  If the economy slows considerably and everyone starts conserving fuel (by driving slower and not taking as many trips) then demand will go down and supply will go up and prices will fall.