Why can't gas prices be lower 'cause i heard on the news that it is going up to $5.00 this summer or this week

Question

Why can't gas prices be lower 'cause i heard on the news that it is going up to $5.00 this summer or this week

Answer 1

Well, for one, we're running out of oil, that's the simple fact. Oil is a non-renewable resource and we've used so much over the years that we just don't have as much as we used to now. However, there's still a very high demand for it so gas stations have no choice but to raise the price or they'll lose money.

Then lots of people also say it's because of our economy. The US economy is in a recession  and we're millions and millions of dollars in dept. The value of the US dollar is also going down so everything needs to be priced higher.

Hopes this helps!