2006-12-15 13:05:47 · 10 answers · asked by myrckjr 1 in Cars & Transportation ➔ Buying & Selling
greed
2006-12-15 13:07:53 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Nice answers, idiots. The President has nothing to do with the price of oil.
To answer your question, OPEC had cut production of oil back by 1,000,000 gallons/day this year. They announced last week that they were going to cut production back another 500,000/day starting in February. They want gas prices to remain at just above $2.00/gal.
This is so they can keep oil at just over $60/barrel and stabilize their profit margin. Oil producers don't like price fluctuations, particularly when they go down, because many companies buy oil futures and lock in "today's price" when they sign contracts. If the price of oil goes up after the contract is signed, OPEC loses that much money per barrel.
2006-12-15 21:16:10 · answer #2 · answered by DA 5 · 0⤊ 0⤋
Umm...probably because all the college kids are heading back home, people are traveling to relations' houses, everyone's out shopping...
Gas prices ALWAYS go up when they know a lot of people are going to be in town, for whatever reason.
2006-12-15 21:09:10 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Because fools like you and I drive are own vehicles and don't care how much it cost.
2006-12-15 21:30:46 · answer #4 · answered by Richard D 2 · 0⤊ 0⤋
Look who is in charge of our country! An oil man.
2006-12-15 21:12:33 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Because both the democrats and republicans have their nose up big oil's ***.
2006-12-15 21:13:49 · answer #6 · answered by Anonymous · 0⤊ 1⤋
It's the holiday season and they know people are going to be traveling..so they know people will pay it.
2006-12-15 21:09:13 · answer #7 · answered by Just Dreamin' 4 · 0⤊ 1⤋
Supply and demand
2006-12-15 21:07:46 · answer #8 · answered by WC 7 · 0⤊ 2⤋
george bush
2006-12-15 21:09:59 · answer #9 · answered by Nick 5 · 0⤊ 2⤋
dam bastard oil companies
2006-12-15 21:12:48 · answer #10 · answered by caveman 2 · 0⤊ 2⤋