Oil prices, from which gas prices are derived, are driven by the laws of supply and demand. The summer was driving season and is peak time for fuel consumption. In the fall, demand tapers off, before it regains steam for heating in the winter. As such, oil prices are a function of supply and demand.
Theoretically, all the oil companies could band together to push prices down, but that would be extraordinarily difficult.
Bush cannot control the price of gas.
Also consider all of the financial institutions that trade oil futures. They would not gain from depreciation (except from shorting) so they wouldn't manipulate it either.
Oil prices have dropped roughly 29% over the past 2 months and gas prices have subsequently dropped by 28-30%.
2006-10-20
11:01:27
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I am all that is man
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