Bobbby J asked in Social ScienceEconomics · 1 decade ago

gas prices????? please answer!!!!!!!!!!!?

hi im doing a project for school(summer work) and i need to know why gas prices are so high. any websites would help, i only need a short and simple answer. thank you!

7 Answers

  • Yuman
    Lv 4
    1 decade ago
    Best Answer

    Oil and gas are getting more and more expensive to produce while more and more people are burning fuels for transportation, heating and operating machinery. See

  • Anonymous
    1 decade ago

    There are several theories, and no one voice (or at least not the loudest voice) has the full right of it.

    Some people think that it is due to inflation. Simply put, inflation is the de-valuing of the unit of currency; your granddad could buy a candy bar for 10 cents, while today it's a dollar. But then again, your granddad probably made about three dollars an hour as well, so it's not just that candy bars are more expensive now.

    Other people believe that it is due to the increasing demand and decreasing supply of crude oil. More people want it and there's less of it to get, so as a rule of economics the price must rise in order to prevent a shortage, which would obviously be fatal to several areas of society. The increase in demand would be due to more people driving in the last few years, and the decrease in supply is said to be due to such things as the foreign war in Iraq, attempted price gouging by some oil sheiks, depletion of our current oil reserves, and the government's prohibition of opening new wells (allowing demand to increase while supply remains the same, leading to either a price rise or a shortage).

    Hope that helps. I know it sounds like a bunch of Economics gobbledygook, but I tried to simplify it for you.

  • Anonymous
    1 decade ago

    There are a lot of reasons, but supply and demand is really only a small portion of it. The real reason is what is called speculation. Its really complex but if you want to impress your teacher do a little research on it. The government is now starting to crack down on it. Its really just people who install fear about supply etc. so that it artificially inflates prices.

    Good luck!

  • 3 years ago

    the fee of oil has risen dramatically at present. Our gasoline fees upward thrust consistent with the fee of oil. there's a tax on gasoline. In some states it truly is around $.80 5 according to gallon. In states like California, the place they mixture gasoline to help with the smog, it truly is plenty larger.

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  • 1 decade ago

    our economy sucks, and we need the gas so the people in the middle east can charge whatever they want

  • 1 decade ago

    supply and demand...

  • 1 decade ago

    because our president is a moron.

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