2007-07-20 03:00:01 · 8 answers · asked by mikeyyyyyyyyyyyyyyyyyyyyyyyyyyyy 1 in Politics & Government ➔ Government
does it have to do with bush ?
2007-07-20 03:04:25 · update #1
Several factors...for oil and gasoline prices.
1. OPEC sets the global wholesale price for oil.
2. Refineries (Shell, Exxon, Mobile) set the national wholesale price for refined gasoline.
3. State taxes added on after that.
4. The local gas station is required to charge within an acceptable profit margin according the the price they pay for refined gasonline...now add some more tax at the pump.
2007-07-20 03:07:47 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Yes, indeed, he and Cheney TELL the oil companies when to raise and lower prices. Bush comes from a family who made their fortune in oil! The price of oil has absolutely nothing to do with supply and demand---it's totally controlled by the oil companies and the White House.
2007-07-20 10:07:06 · answer #2 · answered by nolajazzyguide 4 · 0⤊ 2⤋
Oil is prices on the world market. So that is where it is raised, and taxes also have a large impact on the price of oil.
2007-07-20 10:03:55 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The price is set on the spot market. There are many spot markets around the world.
2007-07-20 10:12:43 · answer #4 · answered by Noah Tall 4 · 0⤊ 0⤋
Oil , like any other commodity falls subject to the laws of supply and demand.
2007-07-20 10:04:25 · answer #5 · answered by booman17 7 · 1⤊ 0⤋
Exxon, Texaco, Mobil, BP,Sunoco,,,,etc
2007-07-20 10:05:16 · answer #6 · answered by PATRICIA MS 6 · 0⤊ 1⤋
The laws of supply and demand
Free market
Not BDS.
2007-07-20 10:11:53 · answer #7 · answered by Mark A 6 · 0⤊ 0⤋
OPEC
2007-07-20 10:03:31 · answer #8 · answered by grumpyoldman 7 · 0⤊ 1⤋