Why Are Gas Prices So High?

Why are the gas prices going up so high?

I wonder what is causing the gas prices to rise so high? I dont understand why they keep going up and up. It seems like the United States is the only country with these crazy gas prices. I just would like to know why. Thanks! I live in Michigan and the price right now for reg. unleaded gas is $3.48 a gallon......

Public Comments

1. Because people are greedy and want all of our money to make us even poorer than we already are!!!!!!!!
2. So oil companies can make there share holder happy. So buy share in oil companies to offset the price.
3. Actually the United States is the cheapest but we are hound dogs when it comes to gas. But what can I say we need gas to survive. I think it has something to do with the reserve level going down and the prices that it is costing to get the oil.
4. Check out the profits from the oil companies next quarter and see why. Momma needs a new pair of shoes apparently.
5. Currently, the United States consumes 19.6 million barrels per day, of oil, which is more than 25% of the world's total.. As a result, the U.S produces one fourth of the world's carbon emissions. Despite predictions that the U.S. will exhaust it's supply of oil in as little as forty years, the demand is on the increase, and is predicted to continue increasing, because of the ever increasing population. Increase in resource consumption is caused by three factors: population growth, new uses found for a resource, and increase in demand for a resource to increase living standards. Remember when only some men in certain careers drove pickup trucks/suvs? Now we have men, woman, teens driving these gas guzzling monsters to no end in sight
6. First off, don't blame the oil companies or the President. It's always easier to blame someone else, but the current price is a direct result of the U.S. consumer - you and me. If you understood basic economics and price theory you would understand why prices are going up (and will continue to up). Price is a function of supply and demand. The supply is low right now due to a number of refineries being worked on (scheduled and unscheduled maintenance). So supply is fixed. But demand keeps rising. Demand for gasoline by U.S. consumers is up 1% over last year, even though prices are 5% higher. Usually when prices rise, demand falls and then the price follows, but nobody in the U.S. seems to want to cut back on driving. Even worse, we are all driving faster. As you drive a car faster, you decrease the MPG of the car, meaning more demand. So we will either need to drive less (and at the posted speed limits) or we need to be willing to pay the price. Oh and don't forget all the SUVs, do we really need SUVs in major metropolitan areas? Frankly I agree with Al Gore, the price of gasoline is TOO LOW. If the price goes up to $3.50 - $4.00 per gallon (which it probably will this summer, when demand is traditionally higher), people will cut back on their driving.
7. Gas prices in the UK are actually 2 to 4 times higher than here in the US. Canada may also be higher.
8. because you keep bitching...just pay the bill and quit whining.
9. Because Big Oil wants to screw the consumer and have another year in recorded billions in profit. That and George Bush helps them out by messing with the Middle East and driving the price of crude oil through the roof! When is America going to stand up and demand change? When will America force the Government into opening our borders to lower cost medicine and imported lower cost oil? If the Government reduced their taxes on our gas we could afford it! They already make enough taxing tobacco so why not cut America a break! Its rediculous - we are all being nickle and dimed to death Utilities, groceries, gas, phone and everything else! When is enough, enough! All we can hope for is that all those thousands upon thousands of barrels of crude oil our military has been sneaking out of the Persian gulf every day over the last few years in those fake Navy ships - modified oil tankers - will keep our prices normal while the rest of the world spins out of control. You know it - I know it We are not in Iraq for no reason
10. Just what he said above! Scotty got it right
11. Don't you believe it! The US is not the only country with high fuel prices. Many other countries have government subsidized gas prices. England, several years ago had high prices, something like $5 a gallon or more. Canada has $4 a gallon now. They (Oil companies) are blaming it on refinery breakdowns this time. They say the refineries we now have can't keep up with the demand. Yet, when the refineries are running full tilt .... the price doesn't go down, the money just goes into the oil companies' pockets. Over 50% of each gallon's price goes to crude oil costs. Then next 30% goes to refineries. Hob
12. In the 70's there was a genuine shortage of gasoline as it was actually rationed. You could only buy on certain days and the lines at the pump were long...... Today were told that refineries are having problems therefore resulting in less gasoline being available. Well adjusted for inflation the cost of a gallon of gasoline today is the same as the 70's however; If there is so little gas then why isn't it being rationed? In the 70's there really was a problem with the supply, today there's a problem with the bottom line. Big oil companies want higher profits so they use any excuse to raise prices. It's all about profits!!
13. because they can raise it and get away with it..
14. The TYCOONS of oil companies have control on everything, on our politions and the rest. and they enjoy to much by seeing how many people on this planet are suffering. and they do not give a damn, as long as there pockets are full of money.
15. God is just answering Our beloved president's prayers. USA's gas prices are actually cheap compared with other parts of the world.
16. SAVE MONEY ON GAS Get $100 worth of gas cards for only $20 You choose the gas cards you want! The coupon book promotes the following gas cards Arco, BP, Chevron, Exxon/Mobile, Marathon, Shell, Speedy Cash, Sunoco, SuperAmerica and Texaco. I'ts as easy as 1-2-3 Just completely fill out the certificates Mail them to the fullfilment center Allow 4-6 weeks for your gas cards to be delivered To get a gas coupon book contact: Gerald Olson 4901 81st ave Coal valley Illinois 61240 Telephone# 309-799-3285 or 309-799-1158