Anonymous
Anonymous asked in Society & CultureOther - Society & Culture · 1 decade ago

Whats going on, gas prices are higher but the co.'s are selling just as much gas. Wtf is going on?

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  • 1 decade ago
    Favorite Answer

    They have dropped around here. Don't forget to VOTE Tuesday everybody.

  • 1 decade ago

    The reason is that the price of gas is closely tied to the price of oil (and not entirely rightly so, but that's how it is). Gas companies really don't make the decision themselves to sell the gas for $3 a gallon or what have you. It is set by energy traders on the commodities exchange market in New York. The reason they have bid up oil and gas so much is because oil is in very high demand due to the burgeoning oil-thirsty economies of India and China and just not enough global supplies to meet the demand. So true to the laws of classical economics, the price shifts upward to compensate for the demand curve that shifted up. Gasoline refineries are also running nearly 100% to meet demand in this country. Refinery companies have been essentially hobbled into not building more refineries over the last decade due to the NIMBY mentality (Not In My Back Yard) as politicians have done everything in their power to prevent them from building new refineries in their districts. And we are all suffering for that now.

  • 1 decade ago

    Gas has fallen to $2.68 a gallon in some areas down here in Sarasota, FL. I would guess that the prices might come down even more after this weekend closing the traditional summer travel season. Its hard to believe that about a year ago I was paying $1.88 a gallon in Roanoke, VA!!!

  • 1 decade ago

    inflation is taking place but here were i live gas is going down mabey cuz hernesto just passed through last week w/e

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  • 1 decade ago

    Just speculation and money making. Same as speculating on stock markets, all so unreal. Money making, money taking, but we need to have a lot of cc's under our asses.

  • 1 decade ago

    you know wat these gas people are just bitches they know we need gas so they just put it on high prices so they make more money i mean for one full tank it costs bout 50 bucks for me and in europe like 7 dollars a gallon!!!

  • 1 decade ago

    it's called price gouging and I hope they all burn in H E L L !!!

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