Why Are Gas Prices So High?

Why are gas prices so high? Will they ever return to $1.95?

Do you think Obama or McCain will drive them down or have no influence on the steep prices at all? Or is U.S., China and India's huge demand at fault? Just want to see what you all have to say, Thanks! If congress does indeed lift the ban on off shore drilling, sure it will help in the long run. BUT it will take 15-20 years before these off shore drillings will be in peak production and still the gas prices will only be swayed by less than $0.01 if or when it is finally made legal. Off shore drilling provides no short term relief at all, but it does threaten the atmosphere and evironment around these future planned drilling sites. I have not been living under a rock, so thanks for the comment. I was looking for more open minded answers and speculations other than the typical "supply demand" (which however is entirely true) as I previously stated.

Public Comments

1. lol no. NEXT!!
2. THE US GOVERMENT WANT TO MAKE EXTRA MONEY IS DUE TO THE WAR IN IRAQ. NO OBAMA.. YES TO McCAIN
3. lol you only remember $1.95 in 1996 a gallon was 00.95 cents lol and it is the loss of oil; that is causing prices to go up. if the USA drilled on its own land the prices would go down
4. Why are they so high....have you been under a rock or something? Prices are high because OIL from which it is made is in short supply(HIGH DEMAND) and demand in increasing world wide, China and Inida in particular. Supply and Demand. Now that Demand has gone down in the USA over the last few monthes, OIL prices dropped and now gas prices have dropped below $4. It will never return to 1.95.
5. Demand is the reason our prices so high. The solution people jump to is usually "We need to increase supply to catch up with demand." While this is the nature of supply and demand, it is not a good option when it comes to oil. We do not have an infinite supply of oil, and I really can't see the prices falling when we may very well be in the last 50-100 years of oil supply. To answer your other question, there is no politician in the world that can bring the prices down that low, they just do not have control over other countries fuel consumption.
6. LMAO hahahaha oh how we all wish!!! "IF" maybe in 2025.
7. don't be naive no the prices will never be that low not even close. We will end the year around the $3.25 a gallon but next year they will find another excuse to run the price up over $5.00 a gallon.
8. Because Amarica pays very little tax on oil the increases have been large as a percentage and so hurt.in the uk we pay over 12 dollors a gallon the majority of which is tax.It is more likely amarica will catch up with europe with the excuse of cutting down greenhouse gasses.Cheap fuel is a thing of the past so learn to economise.