Why are gas prices going down?

Question

Where i live - its gone down from 3.05 to 2.83 in three weeks

Answer 1

Well I guess that makes the whole theory about Bush raising gas prices for profit is thrown out the window. Maybe liberals can begin whining about something else now.

Answer 2

Seven cents in three weeks in the part of Florida I live. I think the oil companies realized the three dollar barrier was the threshold and Americans were demanding something be done. We are getting gouged and anybody who thinks differently, doesn't think. Build some new refineries with the profits, oh wait, that might actually cause the price to drop. It's not supply and demand at all, it's manipulation from everyone in the business and Wall Street speculators. If you search around on the internet. Saudi Arabia has enough oil to last at this level for the next sixty years without doing any more exploration or drilling and that's only one country.

Answer 3

The gas companies always do this to make you THINK you're getting a good deal. Kind of like when the hostess tells you that the wait for your table will be 30 minutes when they know it will only be about 15. You think you're getting in early when you only wait 15. If they told you it was 15, and you had to wait 20, you'd be all kinds of pissed. Gas is the same. If it went to 3.05 and stayed there, you'd think you're getting ripped off, but if it goes to 3.15, and then back down to 2.85, you're happy to pay the 2.85. WHAT A BARGAIN!! ONLY $2.85 A year ago, we'd have a country wide pandemonium if gas cost that much. BTW, I am paying 3.22 and am happy that I'm not paying 3.50..

Answer 4

$2.83? I'm coming to your town to buy gas. It's still over $3 at most places around me.
The inventories have been pretty high and the price of crude has dropped recently, pushing gas down.

Answer 5

The prices have a history of going up and down. They keep pushing upwards as much as possible to test the people. The next time they'll push them up a little further.

You are probably thinking, "Thank goodness it is down to $2.83". Now you are conditioned to accept this as a reasonable price. Next they push it to $3.50, and then drop to $3.20 and you'll be happy. See the concept.

By the way, in Southern California we haven't seen it under $3.00 in a loong time. we are about $3.15 at the cheapest around me today.

Answer 6

It is SUPPLY & DEMAND.

EVERY informed citizen knows that the Democrats stopped the Drilling in Alaska, Off Shore, and on Oil Rich Govt Land.

The Democrat Party received millions of dollars in campaign money from the Environmentalists for getting Gas Prices UP.
(How can so many people be so uninformed as to not know that.)

Answer 7

It is just a slight fluctuation due to demand. Don't count on it to last. I saw a poll run by a TV station in my area asking if people saw $2.50 prices coming again, fat chance. Now that we broke the $3.00 barrier we are going to hover there until the next major upswing in prices.

Answer 8

Just remember they go up 50 cents they only come down 30 cents. Then six months from now the same thing will occur.....We are greatly releived that they come down we don't remember they don't come down enough.........

By the time GW gets out of the WH it will be $5 a gallon. His legacy to his oil buddies in TX.

Answer 9

Refining capacity in the gulf has come back online. There is a very tight capacity of the refineries and they have to shut down each spring for maintenance.

If we built more refineries we wouldn't see this spike in prices each year.

Also we need to have 3 blends of gasoline instead of the 13 or so we have now, that makes it harder for refineries to make the correct blend.

The Government is to blame for high gas prices because of their interference with the oil industry.

Answer 10

It is a good thing when prices go down. The supply and demand curve is seen in three-dimensional action.