2006-09-20 05:35:31 · 10 answers · asked by Wait a Minute 4 in Social Science ➔ Economics
because our country is run by 2 oil men who got richer w/ every gallon. price gouging. summer demand. oil at >$60 a barrel.
2006-09-20 05:46:36 · answer #1 · answered by coquinegra 5 · 0⤊ 1⤋
It's not price gouging, it's the fact that they base prices off of "futures". Which basically means that they try to predict the market months down the road to prepare for whatever may come. Since the Middle East/Katrina situation looked much more dismal last year than it does now, prices skyrocketed. Whereas the situation now, although still messed up, isn't quite as bad. And what happens when it looks less bleak, prices drop.
Keep in mind oil companies only make about 9 cents profit off of every gallon of gas. In comparison the amount of state and federal taxes on that same gallon are much much more!!
2006-09-20 12:46:36 · answer #2 · answered by tkemysterio 2 · 2⤊ 0⤋
The answer given by all the experts was that the tremendous amount of hurricanes, plus India and China saying they were using more and more, so the oil traders drove it up, but now, they realize that china and India will not use near the amount they said, #1, no hurricanes causig damage in the gulf, people feared the gas price and started by smaller cars, all of this they said on msn yesterday, could in 2 years see gas at prices like $1.15 a gallon, keep your fingers crossed, sounds like a plan to me!
2006-09-20 12:52:33 · answer #3 · answered by Michael 5 · 1⤊ 0⤋
The unemotional, correct responses were given by tkemysterio & Michael.
I think if ever get below $2/gal again for any extended period of time, we will be lucky. India & China have over 2 billion people attempting to become modern developed nations. That takes mega energy. High demand.
2006-09-20 14:31:23 · answer #4 · answered by Zak 5 · 0⤊ 0⤋
Price Gouging
2006-09-20 12:39:24 · answer #5 · answered by rosie 4 · 0⤊ 1⤋
The oil companies used the decision by OPEC to decrease oil production and the Hurricane Katrina disaster as excuses to run prices up.
2006-09-20 12:43:18 · answer #6 · answered by sarge927 7 · 1⤊ 1⤋
Some Gulf rigs were still down from Katrina.
They are coming on line.
One was sunk. They just brought that one to the surface. Not operating.
2006-09-20 12:45:11 · answer #7 · answered by ed 7 · 1⤊ 0⤋
North Sea drilling problems
2006-09-20 13:08:55 · answer #8 · answered by Pure English 2 · 0⤊ 1⤋
They know people are going to travel no matter what... so why not hurt Innocent people like us! Good thing prices are going down. No one can afford gas when it's almost $3.20
2006-09-20 12:43:28 · answer #9 · answered by question 2 · 1⤊ 1⤋
lolz. talk about opening up a can of worms.
2006-09-20 12:43:31 · answer #10 · answered by mr_kastner 2 · 0⤊ 0⤋