Why is gas $4.27 in my town?

Question

I can't even afford to fill my car up! I am scared. Are we going to go into another economic depression?

Answer 1

I know what you mean, gas was $3.95 this morning when I was on my way to work. Heavens only knows what it is right now (North Carolina)

Answer 2

Gas Prices -- Restricted domestic production, supply met with global increase in demand for a limited resource.  300 million Americans live burning gasoline is a good thing.  1600  million Indians and 1600 million Chinese are beginning to agree and join in.

"...Existing refineries have been running at or near full capacity since the mid-1990s, but are failing to meet daily consumption demands. Yet there hasn't been a new refinery built in the U.S. since 1976. Why? Several factors: Building a refinery is expensive, there are a lot of environmental restrictions on where and how they can be built and nobody wants to live near one. One company, Arizona Clean Fuels, has been trying to construct a refinery in the Southwest since 1998. Getting a permit to build took seven years, and the company twice changed the plant's proposed location because of environmental restrictions and land disputes. The refinery is projected to have a $3.7 billion total price tag. The EIA recorded per-barrel profits of $5.29 in 2006; at that rate, the 150,000-barrel-per-day refinery would need to operate for almost 13 years before its profits outweighed the cost of building it.

In short, the reason for not adding more refineries is straightforward: It's hard, and it's expensive. The reason that we have so few in the first place is more complicated..."

http://www.factcheck.org/askfactcheck/do...

ECONOMIC DEPRESSION?!??!?

"...It is hard for those who did not live through it to grasp the full force of the worldwide depression. Between 1930 and 1939 U.S. unemployment averaged 18.2 percent. The economy's output of goods and services (gross national product) declined 30 percent between 1929 and 1933 and recovered to the 1929 level only in 1939. Prices of almost everything (farm products, raw materials, industrial goods, stocks) fell dramatically. Farm prices, for instance, dropped 51 percent from 1929 to 1933. World trade shriveled: between 1929 and 1933 it shrank 65 percent in dollar value and 25 percent in unit volume. Most nations suffered. In 1932 Britain's unemployment was 17.6 percent. Germany's depression hastened the rise of Hitler and, thereby, contributed to World War II..."

http://www.econlib.org/LIBRARY/Enc/Great...

Answer 3

Its not a matter  are we  its a matter how badly ... Consider your self lucky  people in Europe  are paying 9.00 a gallon

Answer 4

People everywhere are saying we are heading to a depression. Gas here is 3.85 a gallon and moving up. I can't afford to fill up my car either. One man said on the news, that the world was spinning out of control.