What tha Fcuk is up with GAS prices?

Question

When you stop budgeting and have to save for gas what is the world coming to......

Answer 1

Gas has actually been relatively cheap until recently. If you look at the price of gas standardized to a reference point, we were well below average. While the cost of living has increased at about 3-4% over the past 25 years, until about 5 years ago (when we invaded Iraq), gasoline was increasing at about 2% a year. See the following chart:

It's only since Katrina that we're paying relatively more. Katrina dwindled the national reserves and the refineries have been unable to rebuild the reserve. That means if another Katrina-like disaster were to strike, prices would spike higher and stay high longer, because we'd reduce our reserve supply even more. It'd be like living tankful to tankful, the way we did during the Arab oil embargo in the 70's. You wouldn't be able to buy when you wanted, you be able to buy when supplies were available.

Since we don't ration gas anymore, this means that those gas-hogging trucks on the road that use 2-3 times the gas my compact does are willing to pay more, because if they don't, they're sitting in someone's driveway. God help them if we went back to the even-odd gas sales days. Don't remember them? Ask someone who was driving in the early 70's, they'll never forget...

Supply and demand, baby, it's a beautiful thing.

Answer 2

Well for those that didn't know that our president George Bush was an oil tycoon before he became president. He has major stakes in several large oil companies and if they do well, he does well. Plus oil execs have projected profits from year to year, and in order to achieve those they have to make more money than the previous years. the question is when is enough, I mean everthing in the US has inflated since 1997 correct. well that was the last time minimum wage was raised. Now minimum wage is $5.15/ hour. Gas is $3.35/gallon. When minimum wage went up gas average alone was .97 CENTS A GALLON!!!!!!! People say that if you make min. wage your a loser, but they don't realize that is the BASE for which all pay is considered. If you raise Min. wage to $10.00/ hour, the pay scale for which all other employees would rise as well. If a guy in the company is making $14.00/ hour, he would see an increase of almost $4.00/ hour, so hes now making $18.00/hour. People are too blind to see that gas prices alone is not the only thing to have increased, heating bills, insurance, food, supplies, EVERYTING that must be transported has risen due to the ripple effect. Yet our pay remians the same. Oh yeah, the same congress that voted NO to raise min. wage gave themselves 4 raises last year.

Answer 3

Gas is something that is always going to increase in price because there is always going to be a demand for it (at least, until we can come up with a replacement, or a way to renew the resource). It's economics in action.

Crude oil is up, refineries aren't producing as much, hurricane season is about to be upon us which will cause damage to refinieries on the coast...you name it, it's probably a reason.

Answer 4

Crude oil is up by $7.00 a barrel, they predict many storms this year in all coastal waters. One refinery that produced 170,000 barrel a day is now back on line and making half this amount. All this per web site today 5/21/07. on M S N. I think their testing the public to see how much we will pay before we revoke. As a result of rising fuel cost, the price of food will also go up, it cost the distributor's more to ship it to the stores..In fact you can look for many things to increase in cost. Oil companys know that there are many alternate fuels out there. They wont to get theirs before the game is up their playing.

Answer 5

Oh, you just hit the ouch phase
next phase is daze
then the anger
then the apathy of all U.S. drivers that believe
the horse hockey they are throwing at us
What happened to the truckers protesting?
I do not like it either as the RIPPLE effect (pardon the caps) is worse than the up price in gas!
Ripple effect: food
less money to purchase anything
no money to purchase items because gas wins
Vent...you have my permission and it is not venting it is voicing

Answer 6

Word! Im tellin u its getting really ridiculous. 3.25 a gallon in NY. thats almost 4 dollars/ im 17 and just got my first car. i dont know how im gonna pay 4 gas?

Answer 7

everything is going up, food, gas, electric, everything.