gas prices?

Question

There were seemingly hundreds of reasons why the price of gas went up so high 6-8 months ago.... but no one seems to know why it's dropping so drastically now.
Your thoughts?

Answer 1

Surface analysis has shown that the temperature of the earth has increased dramatically over the past century because of the emission of greenhouse gases. Greenhouse gases, such as carbon dioxide, act as a shield and trap heat inside the atmosphere.
The graph shows how the temperature rises when the carbon dioxide in the atmosphere increases.

The fear is that the earth's temperature will continue to increase. An increase in the planet's temperature may eventually cause the ice caps to melt and the sea levels to rise. The world's coastlines will be washed away. There will also be widespread outbreaks of disease for both humans and wildlife. The idea that serious disasters like these could happen.

"GLOBAL WARMING"

Answer 2

There are reasons why gas is going down.
1) Hurricane season is almost over, so the threat of a major hurrican disrupting oil production has greatly diminished.
2) With the predicition of a warmer than normal winter this year, demand for oil will be less.
3) OPEC is still producing alot of oil, which means there's alot of supply on the world oil market.
High supply, with low demand = lower prices.
4) The N. Korean & Iranian nuclear problems are being handled diplomatically, which lessens the risk of any military confrontation in those regions.

Answer 3

Well, I'm coming from the conspiracy mind frame.
It is my suspicion that the prices dropped for political reasons and that those prices will rise after November 7th (election day).

To be fair, gasoline is a commodity and its market price is subject to supply and demand.
Part of that supply/demand formula is based on geo-political events.
You may recall the skirmish between Israel and Lebanon, this summer.
The fear of an all-out war helped drive prices up, since most crude oil comes from the middle east and war always makes it tough to deliver the goods.
Since that came to an end, gas prices did indeed drop.

But realistically, we're still at war in Afghanistan and Iraq.
We still have real issues with Iran and North Korea.
Logically, gas prices should remain higher than they are.
But they are not.
Which leads me back to my rational that it is politically motivated, to sway the voters in favor of the current Republican-controlled House and Senate.
And only a deaf, dumb and blind person would not recognize the importance of holding on to key Congressional seats.

But what can you do?
Me?
I'm taking action at the ballot box.

Answer 4

It's not abnormal, people drive less in winter, so they need less gas, so demand goes down. It went down last winter too. People go on car trips and vacations in summer, and that raises gas prices. And people are buying less SUVs these days too.

Also the drop is starting to slow down so it is normalling out. It may even go up a bit because OPEC recently decided to cap production and US supplies were shown to be lower than expected. This changes like every day.

Answer 5

That's it alright, elections are coming and the bastards that control the price of oil are all running for relection.

Answer 6

OIL COMPANYS WANT TO BEAT OUT MICROSOFT ON PROFITS HA HA BUT IN REALITY OIL COMPANYS PROFITS FOR 3RD QUARTER 2006 IS OVER 10 BILLION DOLLARS

Answer 7

im going with the upcoming elections. everywants to say there doing something about them and have "proof". Stupid oil companies

Answer 8

POLITICS----on or about Nov.8th. 2006, the sun will rise and so will the gas prices.......fill-up on Nov.6th. just to be able to get one over on them........

Answer 9

Election year is why.

Answer 10

I like Jim's answer.