Why are gas prices so high?

Question

Why are gas prices so high when my dad said they used to be one dollar a gallon? I think it is un fair that this is happening and because of it some peoples cars can break down because they don't have enough money to get gas. Please tell me why this tragdity had to begin.

Answer 1

a declining dollar, refinery capacity, war, oil inventories and speculation

Answer 2

Well mostly its because there is a finite amount of oil in or on the planet that took millions of years to make and now we're burning it up at a rediculous rate. In economic terms, we're producing as much as we can and demand is high, which causes the price to go up. Unfortunately, our society can't presently function without it, so if tomorrow prices went up to 5 dollars a gallon (which is what they pay in many countries) we'd still have no choice. The best thing you could do is to conserve all energy, because it effects oil consumption and most of all the environment, that means recycle, try to live close to where you work and live when your not at home so you limit your driving, take the bus if you can (it can be very rewarding, try listening to music on the bus or reading if you can, although the latter is hard on a bus sometimes) or absolute best of all, use the most efficient mode of transportation the world has ever known, the bike.

Answer 3

likely lol , it purely relies upon which reason they offer us this time for it.earlier it became because the cost of oil going up.Now their conserving cost of oil, is in straight forward words a small result.Then it became the hurricanes which i am going to comprehend.Then it became for replacing the blends from wintry climate to summer season and the opposite for later contained in the three hundred and sixty 5 days.And on a area i became interpreting in addition they stated that, opec became purposly reducing production by like a million million barrels an afternoon.which may then pressure up call for.(so that they are paying fewer human beings to paintings, yet getting tripple the income back it no extra.)that would not, make all people favor to advance call for.in addition they use the scarce tactic, the position they imagine they're going to have a scarcity so that they jack up prices extra in any case.and each 3 hundred and sixty 5 days they keep rasing it,and rasing it So from is seams like no individual extremely knows, you'll listen about one aspect then a week later, the cost drives up and theres no explination.the united stateshas a oil reserve with tens of millions and if no extra packed with oil.and they are contantly searching new places with a lot of oil,purely seams like opec purely needs to make money. the authorities might want to some how, placed a cap on the % they can make (opec,marathon,bp ect) as income,because its incredibly a lot a monopoly.I dont see why giving them extra money because its fairly low, facilitates with this so said as :scarcity".some imagine it has to do something with pres. Bush, yet im no longer certain will be accessible, yet im now unlikely there.yet i am going to assert venezeula has oil yet because their president(Chavez) hates Bush,so that they do no longer favor to do any company.good success on finding out the real answer, i imagine it may pi** alot of folk off, if we ever extremely got here upon out.base line, someones getting wealthy on the expence of others,on a neccesity and many which won't be able to locate the money for it.Like i stated, OPEC and the better gas station organizations are a monopoly in theirselfs.because we haven't the different source and they have us by the balls, inspite of they say, is going.

Answer 4

Did your dad also tell you that bread was 10 cents a loaf? Stamps were 3 cents, and a soda was 5 cents. and he bought his brand new 1964 1/2 mustang for $2000.

Nice to live in the past huh?

Answer 5

this is an ongoing debate, just deal with it, the price won't go down to where it used to be anytime soon. read the news, google gas prices to get all of the stories and explanations, this started with Hurricane Katrina so you can see this isn't a new issue

Answer 6

Incase you didnt know we are kind of in a war in Iraq. A great source of oil is in Iraq and other countries. Oil fields were burned using upt he oil. There is a oil shortage and other countries are charging us more per barrell of oil so the prices went up.

Answer 7

There are many factors affecting gas price
-Inflation
-Goverment

Answer 8

Because we invaded IRAQ for the oil!

Answer 9

because this is AMERICA...all we have to do for the prices to drop is STOP BUYING GAS.....NEXT!!!!

Answer 10

because the government is ripping us off and it sux!