Why are gas prices so high?

Answer 1

ask mr. bush

Answer 2

In my opinion the big old war in the Middle East is just a cover up, thats not the real reason. But it's the best excuse for the billion dollar gas and oil companies to hike their prices and not make it think it's their fault. We should boycott the big gas companies, but it's hard to single them out. If we could I bet the prices would start coming down pretty fast.

Answer 3

They're not. Ever heard of inflation? The gases prices have only increased at +65% over the last 10 years, while education has increased at +220% and medical care has increased at +375%. The only problem we face is that wages have not gone up in the same ways. The only way we'll be able to fix it is if we vote to put interest rates in check or decrease demand on EVERYTHING, not just gas.

Answer 4

OPEC, the official illegal cartal / organization which controls a majority production of the Petroleum., when ever the prices goes down, OPEC orders its members to stop/reduce the production., and vice-versa is not /never followed, which results in a sustained higher prices., and adding to that, the local taxes and duties levied by the respective governments added up to the woes of the consumer., it is learnt that up to 80 % of the price we pay of petrol In India goes into the coffers of the state and central governments., and ofcourse new raising demand from the emerging markets have added new dimension to the consumption patterns of the petroleum

Answer 5

The cost of crude is at record highs due to supply disruptions in the middle east, coupled by high demand due to Chinas booming economy and USAs summer driving season. Also high gas taxes are the other factor.

Answer 6

I am so disappointed in the answers to this question… absolutely no one is correct. BUSH are you kidding me!!! Look there are several reasons why gas prices are high. Most of them stem from your econ 103 class (supply and demand)first the supply side. Yes the mid east has most of the oil in the world, but the US gets only 60% of its oil from outside of the US (that means we produce 40% of the oil we use) of that 60% only about 15% of it comes from the MID EAST (the rest comes from Canada and Venezuela). the problem with supply is that there are not enough oil refineries to refine the oil ( gas comes from oil, not out the ground) plus bc of terrorism insurance rates on oil tankers (the way oil gets from the mid east to everywhere else) this means that no one is making new tankers, so oil is slow to make it out of the mid east. Demand is the other problem. China and India are growing rapidly, so they need oil (if car ownership in china increased by 1%, they will surpass the US in car ownership) so this is obviously a lot of oil being and going to be used. If you know anything about economics you know that as demand increase, and supply decreases, prices increase…

Answer 7

Because President Bush owns the major oil companies and is a Republican and therefore believes in helping only the rich and himself. So although the supply of oil is being threatened, Bush is doing nothing about it because he's getting all the money.

I apologize to any Republicans offended by this, but it is what I believe.

Answer 8

Oh it's just one of those American things we have to get adjusted to the high rising prices with these low paying jobs for the little people who do all the work and don't receive the pay for it. but at any rate charge it to the people who we put in office.

Answer 9

Gas is so high cause we are running out if it and people in iraq is fighting for it and soon it is goin to be high when a hurricane came and mess up things up.

Answer 10

simple USA uses more gas than all the countries in the world combined. actually gas is cheaper here than most countries. Supply AND Demand

Answer 11

Because the cost of oil barrels are high. And to some extent, because gas companies capitalize on scarcity and/or demand.