Why Are Gas Prices So High?

Why are gas prices so high and keep rising?

I've been wondering why, yet I have not found an answer.

Public Comments

1. From what I understand, price of Barrel has been increasing recently and therefore price of gas is going up. Last couple of days, the price of barrel has dropped which caused a decline in the gas price by few cents. The decrease in the barrel could be related to tighter consumption of crude oil products by people because of high gas price. Now that the consumption goes down, the input cost into barrel production reduces and barrel went down a little. But these are minor fluctuations and could have occurred due to some other factors. Also, underlying question is why is the barrel price increasing. This could be because the forecast of crude oil running out shortens the supply of crude and demand is high as ever so by simple phenomenon of supply and demand (where supply is being predicted to diminish in upcoming years), the price goes up. This is my personal opinion which makes some sense but there are many other reasons that could be affecting the gas prices. I hope this helps a little.
2. It's because Bush is raising the prices