Why are gas prices so high? I have an idea but i want to know more?

Question

Why are gas prices so high? I have an idea but i want to know more?

Answer 1

So we can use our stimules checks on gas. That's why they're high.... :(

Answer 2

it's because we waste way to much of it. if people are complaining, just get a fuel-efficient car. it will save you money, and, if everyone uses fuel-efficient cars, we can have petroleum for another 100 or 150 years. But, if everyone buys these trucks and SUVs, and big cars( a.k.a. camry, accord, etc.) then we'll RUN OUT OF FUEL in the next 50 years or so. if you have an suv or a truck for no reason, you're going to be sorry when we are all out of petroleum.

Answer 3

The declining value of the US dollar has something to do with it.  Once the dollar starts to go back up in value as compared to other currancies gas prices should decline slightly.  It also has do do with increased demand for gas in India and China.  If we were to drill more and refine more domestically, it would put more gas on the market and also help to decrease prices.  Also coal to oil conversion would put more gas on the market.  We have a lot of coal, we're practically the Saudi Arabia of coal, so doing this is a matter o building the plants.

I am all for alternative energy, solar, biofuels, whatever, but we need to have affordable and reliable fossil fuels until we get to the point where alternative energy is reliable, affordable, and readily available.  Drilling domestically and coal to oil technology will bridge the gap to alternative energy.

Answer 4

It boils down to a matter of supply and demand. The greater the supply - the lower the price. The greater the demand, the higher the price. If that seems confusing still. Consider that the demand for Gas / Petrol hasn't changed much, so the spike in recent prices is due to a perceived lack of supply...or greed.

Answer 5

Oil companies blame the Mid-East and the weak dollar for the rising gas prices, well truth is we get more oil from Canada then any other country. The only thing is Canada produces what is called oil sands, which is different the crude oil, but basically the same thing, however, SEC rules do not allow them to report oil sands production as an oil and gas activity, so they cannot report their oil sands reserves as oil reserves.  Companies such as Petro-Canada with large oil-sands operations claim this can seriously underestimate the value of their assets. So when crude oil is $120 a barrel gas goes up, even though we're buying oil sands from Canada at $50 a barrel. We need our "elected" officials to stop the oil companies as they are the only ones who can.

Answer 6

From what I hear there are magical worlds called china and india. Now in america I find this highly unlikely because we know we are the only country.....<roll eyes>

The demand of billions of people in china and india is raising the price of oil....so is every other person using oil. America is low on the list as far as gas prices go. Many countries in europe have been paying $6-10 a gallon for years.

Buy a bike or start investing in new technology.

$4.00 gas is nothing. People waste money on a $5000+ tv and then the next day complain that gas is $4.00.

I fill up and get on with my life.

Answer 7

Oil is traded on a global market based on supply vs demand. The demand is so high world wide with China and India demanding more and more oil. In 2003 China's demnad went up 30%. Demand goes up world wide everyday. It never goes down.

We could drill in alaska but, the amount of oil that could be produced a day is just a drop in the bucket of what we use every day.

We have to find a way to do without oil.

Answer 8

The demand is too high for the supply right now. I don't know if its that or that the oil company's are greedy *****. but, ill tell you this. they will probably go down someday i don't think they will be this high forever, and i doubt they will continue to go up as the years pass