In the next 5 years are gas prices going to increase or decrease?

Question

and what causes the increases and decreases?

Answer 1

it has continued to increase over the past 5, so I think the coming 5 will keep going that way.

Answer 2

It depends. The world economy has been booming for a long time, thus demand continues to increase, which has increased price.

If the world economy continues to boom, then yes we will see more price increases, especially if demand is increased beyond the levels today.

Now if the world economy falls into a recesion, the demand for oil will fall which will lower price.

Ofcourse there can be a situation, where the economies slow down and in tandum there is a supply disruption of oil, which would cause prices to increase termendously.

I cant predict the economic scenario 5 years from now, so thatis why I gave you different scenarios.

Answer 3

I would definitely say increase. I dont see tensions in the Middle East easing any time soon and the population is only going to go up, increasing the demand for oil. As far as alternative energy is concerned, we have no effective solution for cars that run on something other than gas (efficiently, dont ever let anyone trick you into thinking that Ethanol is worth it. it sux. it's all chemistry. Octane (gas) has 8 chemical bonds. ethanol has 1. all the energy is in the bonds...go figure). So no, unless you build cars out of carbon-fiber (this would actually work if it werent for the damn auto lobbyists) that get 100 miles to the gallon, gas is just gonna go up and up.

BUY A SMART CAR!!!!

Answer 4

Who knows? Who can tell? Lots of factors involved. For example, several months ago, the US oil refiners discovered a new way to extract oil from the deep sea, which will put billions of gallons of oil into the market when they finally start producing this oil several years from now. Which in turn, will lower the cost of oil around the world. Supply and demand. Yes?

But we Americans all know that all it takes for the price of oil to increase, is a negative world event. Can you spell Opportunists?

Answer 5

increase in gas prices are caused by shortages of oil, the price of gas goes down when oil is coming in at a steady rate to the u.s. but research shows taht 20 years or less there will be no more oil left so in a few years prices are going to be increasing alot

Answer 6

The cost of oil will increase. In addition, we will gradually increase the amount of biofuel (ethanol, etc.) that we blend into gasoline. Biofuel is more expensive to produce than gasoline, and even if technology improves, it will not make much difference over five years.

Answer 7

Increase.

Politics, price of a barrel of oil, crisis in the middle east, production capacity, economy, boneheaded foreign policy, supply and demand.

Answer 8

I think it's a safe bet to say...INCREASE. It's time for America to find alternate modes of transportation....and tell the Saudi's to stick their oil where the sun don't shine.

Answer 9

A) The earnings elasticity of call for for gasoline is 0.5, so; % replace in qty / % replace in earnings = 0.5 % replace in qty / (4200/3900)-a million = 0.5 % replace in qty / 7,sixty 9% = 0.5 % replace in qty = 7,sixty 9% x 0.5 = 3.eighty 5% 3.eighty 5% x 450 = 17.31 gallons (boost in intake because of the earnings effect) B) the fee elasticity of call for for gasoline is -0.2, so; % replace in qty / % replace in cost = -0.2 % replace in qty / (4.30/4.00)-a million = -0.2 % replace in qty / 7.5% = -0.2 % replace in qty = 7.5% x -0.2 = -a million.5% -a million.5% x 450 = -6.seventy 5 gallons (shrink in intake because of the fee effect) C) On stability the internet effect would be: 17.31 – 6.seventy 5 = 10.fifty six gallons boost in intake

Answer 10

increase! lack of supply.