Why r gas prices so HIGH?

Question

So much $$$$

Answer 1

gas prices are high for multiple reasons. one reason being that most of the oil reserves are located outside of america. This is forcing us to pay high import taxes on this oil and the people who control that oil can set a price as high as they want to.

Another reason gas is so high is because of supply and demand. Our society relies heavily on oil we need oil for just about everything and the highest consumer of oil is GAS, hence if more people need to use oil but we have less of it here on America the price will rise because it cost gas stations more money to buy more gas to supply more drivers.

And the gas stations here know that we need the gas so they really dont mind raising the price anyway. I promise you if gas prices went above $10 bucks people would complain but they would still buy gas...just because they have too.

Im in the military and im stationed on guam here gas is already $5.68 and thats on base, july 19, 2008. so please prepare for a rise in price because it is coming. but hopefully you've heard about this new function called hypermiling.

Hypermiling according to wiki is when you make changes to your car to get 50+ miles per gallon on your car. So if this is true then that will answer alot of problems with gas. I have seen alot of sites about this hypermiling maybe its the next big thing im not sure but i would definitely stay informed if i was you. I really hope i answered your question good enough.

Answer 2

Wow, what a coincidence.  My friend likes bunnies too.

Have a nice day.

Answer 3

On the world stand...the U.S. has the 160th highest gas price....we have one of the lowest gas prices on the planet, nothing to complain about. The highest gas price is $15.00 per gallon over seas. People in Britain pay over $10.00 per gallon. Yes there are a few countries still with very low prices, like Arab countries are just under $1, but that is because they have no demand for it because they are almost completely self efficient...because some countries use their own oil instead of selling it they can maintain low gas prices. The U.S. however has a enough oil to be self sustaining for 100 years, BUT we do not use any of this oil we have constantly been selling all our oil instead of using it like we should...instead we choose to buy high priced oil. If we simply used our own oil and invested in drilling instead of buying other countries oil then our prices would decline and if people would stop driving gigantic vehicles that get horrible MPG.

Answer 4

Same reason you do not see a market for electric cars.  The government is making a killing on taxes from the stuff and have not yet figured out how to get that much tax from electric cars.  It does not help that these green people would rather spend there dollars  on foreign oil than use more domestic.

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Answer 5

Due in part to the price of oil which is being driven up by speculators playing the market.  Expanding economies elsewhere in the world are driving up oil demands as well.   China, for example used to export oil.  Now, however, with their red hot economy and ever increasing demand for oil, is actually importing oil to meet their domestic demand.

Answer 6

I just want to point out to some people here thinking that gas stations are making profits... its all over the news now that gas stations are losing money. Many gas stations are going out of business, and most are actually losing money on gas sold. Stations are depending entirely on their variety stores to make up the difference. Its the big oil companies making money, not the stations.

Answer 7

Because the environmentalist believe that global warming is true and don't let the oil companies drill for oil in the U.S.

Answer 8

Increased world wide demand, wallstreet greed, reliance on foreign oil, there's many reasons why oil prices keep going up. You think $4 is high, i'm in socal and im already paying $5 a gallon for gas.

Answer 9

Because of increased demand from China and India.

Answer 10

The cost of oil is what influences gas prices. We, as a society, are dependant on oil - without it, the country couldn't function. We use gas for transporting EVERYTHING, from food to clothing to whatever else you buy.

The oil companies know this, too - they know that we have to have it, so they raise the prices to make more of a profit. They'll also make excuses to raise the prices, like, "Oh, there was an oil spill there, and this rig was damaged." Well, that may be true, but our oil reserves are just fine - we're not going to run out for a while.

It would take getting all of America to be less dependent on gas to bring those prices down - once the "demand" in America is lower, and very few people buying gas, I believe the prices would come down.