Seeing as how the price of gas jumps around as much as it does, I was wondering, who sets the price for the gas we use?
200595
Major Factors affecting price:\n\n1. OPEC's supply (inverse relationship... lower=higher)\n\n2. cost and ability to refine \n\n3. taxes imposed by local, state and federal government\n\n4. consumption (demand)
90351
Yep, I'll speculate, they are giving us shit gas. I'ts 2.65 in Wisconsin and only goes half the distance in my car too. There are places where gas isn't treated here, but now are great goverment wants to poison gas across the state. One way of not raising the taxes elsewhere, just buy twice as much gas. Use 2x's the amount-get2x's the tax.
190654
In May of 1973, before the first oil crisis, the average price of regular gas was 38.5 cents per gallon. In June of 1974 it had risen to 55.1 cents per gallon. I don't know the inflation ratio since then so I don't know what that means in adjusted dollars, but it didn't seem to take the bite then that it takes now.
160483
Some of the prices are artificially inflated. \n\nHowever, gas prices in the US are still lower than in most countries. Go to Germany or England and pay the equivilant we pay per gallon for a liter. \n\nI do think that many of the companies are taking advantage of teh recoupment of defense oil reserves and the war against terror in order to boost their profits.\n\nOn a final note, though, the war in Iraq was not about oil. If it were, we would be getting oil from Iraq. We are not, yet at least. Much of what excess Iraq is producing is going towards paying their reparations to many countries.
215538
Is it really that cheap in America.  I find it very difficult to convert a foreign gas cost due to the difference in monetary value & measurement (gallon vs litre).\n\nIf it is truly cheaper it probably has to do with the fact that we have a lot of powerhouses in the oil industry in our back pockets.  And those that we don't we intend to change by overthrowing their gov'ts.  Truthfully though, in reading up further on it its about the way a gov't is set up:\n\nThe main factor in price disparities between countries is government policy, according to AirInc, a company that tracks the cost of living in various places around the world. Many European nations tax gasoline heavily, with taxes making up as much as 75 percent of the cost of a gallon of gasoline, said a spokesperson for AirInc.
460859
Used to be $2.21 as I remember. I saw yesterday the gas station near my house was $2.33. The low gas prices arguement was used by the GOP as a campaign tool and now they still lost. So, it is rising again.
293325
To take Saddam's oil.  I'm guessing the U.S. tried to make a deal with him in the 80's but it didn't go well, so the U.S. decided to make him 'an offer he wouldn't refuse'.  But he did, and look what happened.  How would you feel if the price of gas shot up to $3/L or $10/gallon?  << THAT'S WHY.  In order for our way of life to continue someone's else way of life has to be altered.
327741
Gasoline is the bloodline that keeps America moving. Our personal vehicles alone guzzle 65 billion gallons of gasoline and diesel fuel each year, and that number is projected to increase by 2.6 percent each year. \nTracking gas prices can feel like a roller coaster ride. They're down a little one month, up the next, before shooting up more than 30 percent in a year. Plus, they're different depending on where you look. Other countries, and even other states and cities, can have very different gas prices from your local Gas-N-Go. To the average person, it probably seems as though there's little rhyme or reason to how gas prices are determined. In this article, we will look at the forces that impact the price of gas at the pump, and we'll find out where your gas money actually goes. \n\nAmericans have an insatiable thirst for gasoline, and with sport-utility vehicles (SUVs) continually growing in popularity we are only getting thirstier. Just look at the roads and highways and you'll see that a severe gas shortage would practically cripple the country. Americans drive more than 2.5 trillion miles per year in automobiles, light trucks and SUVs, according to a MEMA report. That's equal to 14,000 round trips to the sun. Today, we drive almost twice as much as we did in 1980 (1.5 trillion miles). \n\n\nPhoto courtesy Phillips Petroleum Company\nA gas station in Colorado Springs, CO\n \n\n\nHistorical Gas Prices\n(Adjusted for inflation)\n \nYear Price Per Gallon \n1950 $1.91 \n1955 $1.85 \n1960 $1.79 \n1965 $1.68 \n1970 $1.59 \n1975 $1.80 \n1980 $2.59 \n1985 $1.90 \n1990 $1.51 \n1995 $1.28 \n2001 $1.66 \n2002 $1.31 \n2003 $1.52 \n2004 $1.79 \n2005 $2.28 \n2006 (so far) $2.68 \nSource: U.S. DOE  \nThe United States consumes an average of 20 million barrels of oil per day (bbl/d, according to the Department of Energy. Of that, about 45 percent is used for motor gasoline. The rest is used for distillate fuel oil, jet fuel, residual fuel and other oils. Each barrel of oil contains 42 gallons (159 L), which yields 19 to 20 gallons (75 L) of gasoline. So, in the United States, something like 178 million gallons of gasoline is consumed every day. \n\nTypically, the demand for gas spikes during the summer, when lots of people go on vacation. Holidays like Memorial Day and the Fourth of July create logjams of tourist traffic during the summer. This high demand usually translates into higher gasoline prices, although that's not always the case. For instance, while gas prices soared 31 cents in April and early May of 2001, reaching $1.71 per gallon (which now seems inexpensive compared to today's prices), prices actually declined during the 2001 summer. \n\nIn 2004, prices continued to rise past the end of the summer travel season for a variety of reasons, including several hurricanes and an increase in the price of crude oil. And in 2005, Hurricane Katrina (along with a sizeable increase in crude oil prices) pushed prices to $3.07 per gallon on September 5, 2005. Prices settled down somewhat in November and December of 2005. But now the numbers are climbing again, with an average price for regular unleaded gas at $2.90 right now (May 2006). \n\nPrice increases generally occur when the world crude-oil market tightens and lowers inventories. We will discuss who controls the crude-oil market later. Also, growing demand can sometimes outpace refinery capacity. In the spring, refineries perform maintenance, which can place a pinch on the gasoline market. By the end of May, refineries are usually back to full capacity. \n\n How do you overpower the pump?\nRising gas prices are impacting everyone: what are you doing to soften the blow?\nWe want to know!  \n\n\nWhen you pump $20 dollars into your tank, that money is broken up into little pieces that get distributed among several entities. Gas is just like any other consumer product: There's a supply chain and several groups who are responsible for setting the price
592980
As you know, the cost of crude refineries pay is set across the board globally. Which in turn they charge the same price. It is mainly these franchise gas station compnaies that change the price, who are told to change the price as the market flucuates. Which in turn the station across the street wants to stay competitive by adjusting their price accordingly, up or down. It's all about the supply and demand now. The United States uses approx. 84 million barrels a day, when our supply is just 85 million.\nAnyway, here is a good couple vids to watch.
259510
Just so you have facts. Clinton allowed the 5 major oil companies to buy up all the smaller (not quite a monopoly which is against our laws) Yes he knew why they wanted too. These 5 companies can now set the price and there is enough for all to make big profits. One of the claims they say is they are doing this in case of further shortages (baloney).  This is not silly putty (which no one must have) and the government should be able to have some control on peoples needs (remember our heating depends on this yet alone work needs and hospitals need heat and Police and Firemen need to be able to have fuel to get around). We are stilling getting the same amount of oil as the last couple years -we are using a bit (not much) less-so it isn't a shortage (yet).) Because these 5 major companies have a lot of money they also control some in government (yep-favors another story) . So it seems they can do what they want-they only have to answer to shareholders (be surprise who some of them are). Until the People or Media turns on them they have upper hand. Just thought I would give basics to you.
208322
the gas companies have greedy businessmen behind them milking this for all it's worth.  they are lying to the public, and making record profits!!!  its disgusting.  no one in this government will take a stand on this.  i think that they don't want to bite the hand that feeds them(money)!!!
230729
Not that I am for this--But dear it wouldn't matter and why you ask---well here is an article--this is starting to open up a new can of worms--please understand--Anyone in the world could have all the oil in the world..and it really wouldn't matter at this point...\n\n$3-a-gallon gas: Blame Washington, not Big Oil\nWhat's driving up gas prices? It's not just higher crude costs; it's new regulations.\nNelson D. Schwartz\nMay 3, 2006: 2:20 PM EDT\n\n\n(FORTUNE Magazine) - With gas prices roaring past $3 a gallon and consumer fury rising even faster, Congress and the White House are engaged in a Kabuki-like ritual: pointing fingers at each other over who's to blame, while furiously attacking Big Oil for reaping gargantuan profits - as drivers get hosed at the pump.\n\nIf the politicians really want to figure out who's responsible for the latest round of price increases, though, they'd be better off looking in the mirror. That's because the rise isn't only due to higher crude costs. It's also fallout from some little-noticed provisions in the energy bill passed by Congress and signed into law by President Bush last summer.\n\nBuried in the 551-page energy bill - which was supposed to ease energy shortages, not worsen them - were new regulations governing what additives go into gasoline and how it's refined. Corn-based ethanol is replacing the petroleum-derived additive MTBE, but Congress timed this logistically tricky switchover to occur just as demand for gasoline peaked ahead of the summer driving season - right about now.\n\nThe end result is an extra strain on the refining and distribution system when it can least afford it.\n\n"It's too late now, but Congress has consistently failed to sequence regulatory requirements in a responsible fashion," says Bob Slaughter, president of the National Petrochemical & Refiners Association.\n\nAdds Larry Goldstein of the Petroleum Industry Research Foundation: "The gasoline crisis is made in the U.S.A., not in Iran or Venezuela or Nigeria. At least half the increase in gasoline prices is due to unintended consequences of the energy bill, but no one in Washington wants to admit that."\n\nIndeed, while crude prices have risen 21% since the end of 2005, gasoline is up 37% - a sign of just how stretched the system is. Congress's mistake, says Goldstein, was setting the new law to go into effect 270 days after it was signed - May 5 - rather than waiting until fall, when gas demand is typically on the downswing.\n\nNow the big question is, How high can gas go? Well, perhaps the only good thing that can be said about paying three bucks per gallon is that it seems to be slowing consumption - which should, in turn, reduce prices. Over a four-week period in April, says oil analyst Jamal Qureshi of consulting firm PFC Energy, U.S. gasoline demand dropped by half a percent, to just over nine million barrels a day. That may not sound like much, but it's a reversal from the 1.7% average annual increase in gas consumption the U.S. has experienced over the past decade. If $3 is indeed the tipping point at which consumers change their behavior and alter their driving habits, it's the one silver lining in an otherwise very dark cloud for drivers.\n\nThe wildcard in this scenario, of course, is the increasing risk of a military confrontation with Iran. If that happens, says Qureshi, "all bets are off." Given that crude oil accounts for 55% of the cost of each gallon of gas (refining accounts for 22%, taxes for 19%, and distribution and marketing for 4%), an upward spike in crude oil would push gas up even if the bottlenecks caused by the energy bill ease this summer.\n\nThat's why Red Cavaney, president of the American Petroleum Institute, says the answer in the short term is conservation. Washington is indeed being turned upside down when it's left to Cavaney, Big Oil's chief lobbyist, to talk conservat
165249
They'll just keep putting the prices up because they know that companies and individuals have no option but to pay.  It's what's heppened here in the UK where gas is now more than $7.50 a gallon and demand is still rising.\n\nThere won't be fuel rationing unless there's an actual shortage of fuel and that doesn't seem likely.\n\nI can only speak for the UK when I say that there has been fuel rationing - during the war and during the oil crisis of the early 1970's.
66560
Ethanol is not the answer for raising gas prices. They produce it as a cleaner burning fuel. It all deals with the theory of global warming. I don't buy it, but that is the reasoning they use for it.
152794
It is funny how people complain about the price of gas and then complain when the Pres. tries to do something to lower that cost. Lets here some solutions from the people who grip about everything he attempts to deal with. I have yet to hear a plan that is logical from anyone. Alternative fuels ,yes but where are the people at that are willing to fund the development of these fuels? The president can not force companies to make a new fuel source as that would not be free enterprise. Do you think the oil companies who's profits are way up are really going to work hard to come up with other sources? I would love for the US to go to ethanol but someone with more money than me will have to set up the refineries. This solution he is giving is not enough and I will agree with you there but it will take more than the Pres to fix this problem. I will be honest and say that I could do more to help like take public transportation, quit driving my truck, stop letting the grocery store us plastic bags for my purchases but I like these things. We need to Stop playing the blame game.
194504
This is just another urban legend floating around.\n\nBoycotting Exxon isn't going to work to bring down prices.  If everyone stopped buying from Exxon and used the other providers, then the other providers would run out of gas pretty quickly due to supply and demand chain effects.  What would happen is that they would buy their gas from Exxon and overall all prices would go up, not down.\n\nFull mythbuster at Snopes.\n\nhttp://www.snopes.com/politics/gasoline/gasout.asp\n\nTo lower gas prices, you have to lower demand, which includes things like carpooling, public transportation, alternative sources of energy, and better milage vehicles.
306475
Venezuela is the 8th largest oil producer in the world. They got supply coming out their ears...so, yes, approx 14c per gallon for gas is current price.\n\nUK doesn't produce any oil, and they are paying approx $6.40 a gallon. We produce some and we pay around $3. \n\nConstant price thru the world? Do you know ANYTHING that has a constant price all over the world? If everything was the same price, why would we have ships cruising around carrying stuff from one country to another? Stuff is priced differently cause certain countries can grow or make it cheaper than others. Sugar for example. It costs the US a ton of money to make sugar. In Brazil it grows like a weed. It is REALLY cheap there. But, rather than getting sugar cheap from Brazil...our government slaps a huge tariff on it, to make it equal the sugar prices from the US. Great. So, now instead of paying 10c a pound, I pay like $1. 10x what I could be paying. Why??? Well, just cause some sugar grower here in the US wants to keep growing something here that barely grows and takes a ton of work to make it grow. Makes no sense. Grow something else.