Why are gas prices going down?

Question

In the past few weeks they have gone down a few cents a day. Why do you think that is?

Answer 1

Because the price of oil is going down.

Answer 2

Because oil went down  from a high of $145 per barrel to $115 per barrel. divide that by 42 gallons and you get the RAW cost BEFORE any refining, shipping, and taxes. gov't makes more per gallon than the oil companies

Answer 3

Because WE are using LESS ! And since the Oil Companies want to STAY in Business, they'll KEEP lowering prices until we START driving MORE again! The second THAT happens, -the price of Gas will start going UP again!  It's SO simple!- & it ALL depends on US !!!  :)  

Answer 4

the same reason they go up. when the supply is low the gas goes up and vice versa.

Answer 5

bc the barrel of oil is going down

Answer 6

They don't want to cause people to revolt and put pressure on development of alternative fueled cars. They want to slowly, methodically milk every possible penny out of the common man because they know that in the long run that people are intrinsically lazy and procrastinators. So if they wait and slowly leech them they might grumble a little but they'll eventually pay $20 @ gallon rather than change their lifestyle and deny themselves any.   Our society is so self-indulgent and spineless that if we had to endure hardship like WW2 - we might as well bend over and kiss our "donkey" goodbye.  

Answer 7

More People are taking Metro more people are carpooling etc. etc.

Answer 8

Because the price of a barrol of petro is going down...suply and demand...

Answer 9

the presidential elections

just wait until the elections are all over the price of gas will go up

Answer 10

What your other answerers did not mention is that prices did not drop one penny until the President announced his cancellation of the ban on off-shore drilling.

Remember, some/much of this high gas price is fuelled by speculators, and speculators, like everyone in the stock market, are influenced by emotional things.  Just the President's announcement was enough to shake the speculators.  

Answer 11

gas is going down because of yearly fluctuality every year it starts going down but, it will go back up after labor day.

Answer 12

Don't complain, lol.

The demand might be normalizing, but I think its more like the speculators who caused this rise is easing off. If the speculators think that we will use more gas, then they can jack up the prices. I hope prices drop back down to below $3.