Why Are Gas Prices So High?

Seriously, WHY Are Gas Prices So High ???

How does the system work? and Why is it only now that they have raised to drastically? seriously more answers wow. this subject is intersting. Star it if you also find it interesting.

Public Comments

1. China and India's economies have recently been booming. their economy is growing rapidly. the countries are becoming more and more industrialized as a result, increasing oil consumption. Since they are using so much oil, the demand for oil is skyrocketing. and due to supply and demand, the high demand is raising the prices. theres also alot of other factors like the iraq war, the afghanistan war, and the search for osama which are all costing us a buttload of money everyday
2. B/c are economy is crap. I don't think there's a sole reason why, but were using up a lot of $ in the war against Iraq, Banks are giving out loans people cant afford to pay back, interests rates going up on houses so people have to sell there house. something like that i think
3. We get crude oil from Iran and Saudia Arabia. They are costing us so much to drill for oil. So the U.S. has to price gas so high to get a profit from drilling prices.
4. because Bush is a faggggg
5. The high price of oil sends everything up in price especially stuff directly linked to oil such as gas and plastic products, everything needs to be transported one way or another (all vehicles use gas) so thats why also food prices are up, Also the demand for energy and oil is high and therefore oil is so high. The demand exceeds supply.
6. seriously? well, why is it SO expensive see the doctor, and why is it so expensive to use electricity in the summer months. Simply because they can and you will still pay for it. We have not reached our breaking point yet with oil, but yes there is dissension flowing. Gasoline and alternative fuels are substitute goods. So if the demand for one decreases the demand for the other increases (inverse reaction). You can see this developing already. And i personally am all for it. I live in south Texas which is big on Wind Energy. At any rate , its simple supply-demand. There are millions(billions) of ppl out there demanding oil every second of everyday. Unfortunately it will prolly get worse b'fore it gets better.
7. It's becoming more and more expensive to take out new oil. We have reached the so called "peak oil" where the oil prices will only rise.
8. Prices are high? Compared to what? Remember that all fuel prices are affected by international events, and that few countries have the luxury of paying low US prices for any type of fuel. I live in Australia, 92% self-sufficient for oil, yet I pay $USD6.50 or more a gallon. You live in the US (7-9% self-sufficient for oil) and you complain about paying half what I do. Get over it, get rid of your large cars and adapt: the rest of the worls has.
9. Weak dollar means imported goods such as gas are pricier. They say it's a supply and demand issue also, I mean eventually it would be a problem with the way we use oil. They aren't making any more of it just using what the earth has. Put the 2 together and we have ourselves a problem!
10. The weak dollar has pushed up prices on all commodities, so that is part of the reason gas/crude oil is up. Demand has been huge because of the economies of China and India. BTW China will soon be drilling off the coast of Cuba.
11. Because some country has the monopoly on the crude oil.