If big oil companies can dictate the high prices for gasoline, why were those prices so low from1985 to 2000?

Question

I especially want to see the answers from those who don't trust the oil / gas industry, but of course it's best if everyone answers.

Gasoline prices were very low at other times as well during the last 50 years, even adjusted for inflation. I remember when it was $0.16 / Gallon in the mid 1950's

Answer 1

The simple answer is supply and demand.

The complex answer is compared to other countries we are cheap (Europe is really high) however countries that have the Oil and can REFINE it to gas pays a lot less. As more and more people come on the thirst for Oil is ever increasing. China is going to be a major player in the next few years and tensions in the Middle east where the majority of the oil is and it is not going to get any better any time soon. $1 or lower is gone for good and in a few years $2 will be gone for good. Times are changing and there is very little we can actually do.

Answer 2

Well old timer, when it was .16 a gallon what were you paying for milk, bread, cars? The States have it made we do not pay what the Europeans pay. Even when production facilities are damaged the oil companies keep supply coming. Want the good old days of Jimmy Carter when we had to wait in lines to get gasoline on odd and even days? Get off yer butt and quit whining, enjoy the good things we have.