why is gas prices continuing to go up?

Answer 1

They Have actually gone down 4 cents per gallon in the past few weeks (ref: CNN)

Answer 2

There are several factors:

1-Instability in the middle east.

2-Lack of refining capabilities (we've not built a new refinery since the 1970's).

3-An increase in world wide supply. China and India have dramatically increased their need for fuel because of the booming economies there.

4-Our lack of VIABLE alternative fuels. This nation has sat since the oil crunch of the 1970's and done NOTHING. BOTH parties are responsible for this problem.

When you take these into consideration the law of economics kicks in...supply & demand. The higher the demand, and the less supply = higher price.

Oh, and for the "Bush stole the oil" retards...if we have all of Iraq's oil why the skyrocketing prices?

Answer 3

Supply and demand.

The United States is one of the worlds leading consumers
of oil. With tensions in the middle east, the supply chain is
in danger of disruption. This is one of the causes.

Iran (A very large supply of middle eastern oil) has also
stated that acts of violence or treats of sanctions will
cause the country to delay or disrupt shipments.

Many see this as a ploy though. Too much of Iran's economy
is dependent on oil exports. But the very mere mention of a
supply disruptions causes the stock market to react and hence
the price of oil fluctuates.

Answer 4

Because we keep on paying. Not hurricanes or wars or any of that. Gasoline is a boutique fuel, mixed specifically for the area it is sold in.

When we finally have had enough and boycott the gasoline industry, prices will come down, until then the sky's the limit.

Answer 5

Its called supply and demand. They control the supply and we keep demanding it. We're the ones to blame, not the oil companies (This is America whre free enterprise is the name of the game) not the OPEC nations (I'd make the most of good thing if I were them too) If you really want gas prices to go down stop needing it.

Answer 6

The law of supply and demand. When the demand for an item is greater than the supply, they price goes up and vice versa when the demand is less than the supply the price goes down. Example Toyota Prius, x Box. etc.

Answer 7

unlimited demand in US

we could reduce our 'need' but that is not likely to happen.

Last time the US attempted to reduce our consumption of petroleum Jimmy Carter was president.

We used to have "CAFE" standards...

We used to look for alternative sources of energy like, bio-fuels, nuclear power, more efficient mass transit systems...

The answer is simple as long as every American has to drive his/her individual auto to go down to the corner to get a coke, gasoline will be in unlimited demand. So regardless of the supply, prices will go up.

On another note: The US has just about the lowest gasoline prices in the world. But that is a discussion of economic externalities...

Answer 8

gas prices are going up because, the usa needs more money to help better the economy since katrina and rita or any other hurricanes. oil in gas is starting to getting harder to find or it is getting all used up.

Answer 9

gas prices have started to go down here

Answer 10

Because of the war going on with the Middle East.

Answer 11

becuse it is a limited resource one day there will be no gas and the less there is the more it cost. plus we pay about 50 cents in taxs and the rest is oil company costs, and exspanding. do not forget all the golden parchutes for employees