2007-05-21 05:55:26 · 9 answers · asked by RED SONIA 3 in Cars & Transportation ➔ Commuting
Sure it's true. As long as we keep using gas at this pace, we'll never rebuild our reserve supply. As long as supply remains low, every gallon otu there is worth more. Gas prices have increased 13% a year since invaded Iraq. Prior to that, gas prices rose at about a 2% rate for the prior 20 years.
The biggest contributor to this recent price increase is the availability of refinery time. There simply isn't enought capacity to refine all the products that need refined. In addition to gasoline and motor oils, these refineries produce industrial grade products.
The current planned expansions won't come online for another 2-3 years, at least. When they do, we'll probably be so deep in the hole, it'll take a year to build reserves back up.
Don't be surprised to see $4 gasoline next spring if you don't see it this summer.
2007-05-21 09:33:30 · answer #1 · answered by Anonymous · 1⤊ 0⤋
In Aspen, the gas prices are already at $4.09. Based on this, gas prices could potentially reach $5.00 by August or September. This really sucks, especially for me since I am young and don't have very much money to pay for these gas prices. I hope they decrease soon!!!!!!!!
2007-05-21 13:04:16 · answer #2 · answered by Pink Bubblegum13 2 · 1⤊ 0⤋
Sure it's true, but it's also true that they could go down. If Congress decides to raise taxes on gas it will probably hit $4.00/ gal. AND you will also see other prices going up. It takes fuel to deliver goods to stores. Fuel goes up, prices go up.
2007-05-21 13:14:49 · answer #3 · answered by srdongato2 5 · 1⤊ 0⤋
I wouldn't doubt it b/c they know we all have to pay whatever the price is in order to get around, so they can basically put it at whatever price they want. It isn't right and why is it even so high again??
2007-05-21 13:04:03 · answer #4 · answered by tdc923 4 · 1⤊ 0⤋
I don't know if its an absolute truth, but a very real possibility. Around my area, its 3.17 for regular. I filled up on the 16th and then again on the 20th and I drive a damn civic!!! Makes me so mad.
2007-05-21 13:00:05 · answer #5 · answered by New Moon Daughter 6 · 1⤊ 0⤋
Heard the same thing this morning on the news.
2007-05-21 12:58:32 · answer #6 · answered by yarconas 2 · 1⤊ 0⤋
It is probably true. However I will not drive if it does. I am for me not the Oil Cartel.
2007-05-21 13:51:04 · answer #7 · answered by thomas m 5 · 1⤊ 0⤋
It all ready did in CA. (Bay Area)
$4.09 gal. supreme Shell gas.
2007-05-21 12:59:13 · answer #8 · answered by Mr. KnowItAll 7 · 1⤊ 0⤋
It could be true, it hit $3.01 here in my town last week so there's no telling...I hope not!!
2007-05-21 13:47:31 · answer #9 · answered by frakmomma04 3 · 1⤊ 0⤋