Who or what controls gas prices?

Question

Who or what controls gas prices?

Answer 1

goverment

Answer 2

It's controlled by several factors including:

Oil Future markets,

The strength of the dollar (in other words - because the dollar is weak right now, investors create a secure investment to hedge against a weak dollar, which is why crude oil is sky high right now - somebody is making ALOT of money right now)

Demand for oil in America, Europe and especially in the developing world - particularly China and India.

Production

OPEC

Possible conflicts in oil producing countries like Iran

Terrorist activities in Nigeria

The List Goes On...

Answer 3

The D.O.E. - Dept. of Energy. We buy oil at certain prices from overseas companies, and the need for gas, the restraints due to war, and the resources - i.e. amounts from drilling attained all affect how much each barrell will be sold. The more demand... the higher the prices. There's less resources right now, that's why there's been so much talk about drilling in Alaska and other places in the U.S.... to lessen the dependence on foreign oil.

Answer 4

Gas, along with oil, and coal... are nonrenewable resources.   How many billions are living on earth these days exactly?  This is a problem, there are too many of us, and we are raping the planet.  I'm glad as prices are so high.  If only we could make a  real transition to sustainable energy sources, I'd be really happy.

Answer 5

I just wanted to let everyone know about this great site I found with lots of useful Gas saving tips and information. It is a free site, so no worries. Check it out and save some money like I did using the tips. Good luck!

http://www.BeatTheGas.com/

Answer 6

companies. S&D