Anonymous asked in Cars & TransportationOther - Cars & Transportation · 1 decade ago

Why has the price of gas dropped? ?

5 Answers

  • Me!!!
    Lv 4
    1 decade ago
    Favorite Answer

    Well because the price of a barrel of oil has dropped and subsequently petrol (a by product of oil) has also dropped.

    Hope that helps

  • Anonymous
    1 decade ago

    Supply and demand - otherwise known as market forces.

    When prices hit $4 people started using less and using other transport, demand went down. So, to encourage you to use more gas they lower the price (the price of crude oil also dropped and that was also directly because demand for the finished product - gas went down).

  • People are spending less, meaning demand for other petroleum products has declined. Because of this, the price of oil has also declined, and so too have gas prices.

  • 1 decade ago

    Lower cost of oil and less demand for gas.

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  • Anonymous
    1 decade ago

    when ??

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