WHy is gas lower today but when we had the Hurricanes the gas was sky high
2006-10-02 10:15:47 · 11 answers · asked by Alayshia 1 in News & Events ➔ Other - News & Events
Be quiet! They'll hear you!
2006-10-02 10:17:39 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Because demand has decreased. The summer driving for vacation season is over. also supply of crude oil has increased. Chevron oil and it's partners have found an oil well that has a potential to produce 6000 more barrells or oil per day. Supply has increased, demand has decreased. this equals lower prices.
Plus, Now that Iran has falsely talked about peace, the gasoline traders have lowered the price somewhat. In oil markets there is a "fear of war" premium added to gasoline and oil.
2006-10-02 17:20:25 · answer #2 · answered by stick man 6 · 0⤊ 0⤋
That depends on who you ask. They raised the prices last year because of the potentially damaged rigs in the middle of the Gulf (though there was no damage and yet they kept raising the price until recently). There are some who will say that the cost has gone down because of supply and demand, the less a demand the less the cost. And there are some who will say that it's because of upcoming elections.
You take your pick. I'm sure there are other reasons.
2006-10-02 17:26:38 · answer #3 · answered by FaerieWhings 7 · 0⤊ 0⤋
Um, because we haven't had a hurricane this year that devastated the oil industry at the level of Katrina in 2005?
2006-10-02 17:20:17 · answer #4 · answered by Tyler R 2 · 0⤊ 0⤋
After the election is over it will be high once again. So take advantage of it while the prices are lower.
2006-10-02 17:24:43 · answer #5 · answered by larrys_babygurl_4life 4 · 0⤊ 0⤋
I think it's because it was summer time and that's when everyone travels now it is going to get lower
2006-10-02 17:18:16 · answer #6 · answered by Muy Buena 4 · 0⤊ 0⤋
That's just an excuse. I think they are giving us a break but I really do believe that it will shoot up again.
2006-10-02 17:19:53 · answer #7 · answered by mona75243 4 · 0⤊ 0⤋
SHHH and stop repeating yourself.
2006-10-02 18:02:32 · answer #8 · answered by GRANNY12GR1 4 · 0⤊ 0⤋
supply and demand.
2006-10-02 17:24:41 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I'm not sure, but honey...I'm not complaining either!
2006-10-02 17:23:11 · answer #10 · answered by Chanel 3 · 0⤊ 0⤋