Why does the price of gas keep going up?

Question

They keep saying it is supply and demand but since people are driving less due to the high cost why is the cost going up almost daily. Here in California the cheapest gas I have found is $4.23 per gallon

Answer 1

Because the value of the USD (United States Dollar) is decreasing.

Answer 2

dollar decreasing good point higher price of crude and stable economy. Taxes are higher in CA thats why is more say then here in AZ at 3.95 per gallon

Answer 3

Because even if you drive less, everyone still needs gas, and those companies know it. So they are going to make as much money as they can before gas runs out and their company is done for.

Answer 4

rising inflation :(

Answer 5

because bush is keep bombing oil rich countries :)

Answer 6

Because BUSH is leaving in November so he has to get all the money he can for him & his buddies at these oil co.  Going out with a bang !!!  HE should have tapped into the reserves a while ago

Answer 7

the government is s******g us

Answer 8

becuase we only use, i believe, 10% of the oil that we would be able to drill here in the US.

Answer 9

The price is NOT going up because of supply and DEMAND any more.  That's how it started to go up.

Now it is only going up because of wall street speculators.  This was on tv business talk show.

Good Luck...

Answer 10

We're just running out of gas.  We're using it more, even with people driving less, than we are producing it.

Basically we need to find another way to fuel our cars.  I know we have the technology to do it, so I don't know why it's taking so long.

Answer 11

The people selling it are raising the price per barrel.  There is still plenty of oil.  Of course the oil is running out, but it has been for the past 25 or so years.  It hasn't drastically changed within the past few years.

So why is the price going up? The people selling it (primarily the Middle East) raised the price because they own the oil fields and they can because we need it. Hence, supply and demand.