Why have gas prices gone up so much in the past few weeks?

Answer #1

Cuz oil prices have gone up?

Answer #2

maybe because spring break is almost here(for my city at least) and warmer weather, people getting their tax returns, lol those are my guesses

Answer #3

I think its because the oil prices r goin up, not sure y

Answer #4

The demand in oil has increased and the terms of finding oil in the Pacific (oil drilling) is becoming more difficult as it is to find oil underwater. I remembered a few years back (around 6) when my teacher told me that in the future, our generation couldn’t depend on fossil fuel (oil/gasoline) because soon we will eventually run out. So the demand for oil is increasing as well as the population, more people means more cars, which means more fuel.

Answer #5

There have gone up, due to all the trouble in egypt, libya since the rebels have decided to take a stand which has caused prices to go up

Answer #6

The gas prices have gone up due to all the turmoil in the Middle East. Expect them to continue to rise until things setlle down there.

Answer #7

The price of a barrel of oil hit north of $100 again recently, the most expensive it’s been in a while….due to the political unrest, as people have said.

Answer #8

Since discretionary consumption is a small portion of total consumption even small supply interruptions can cause large spikes in prices. When gasoline prices go up a family might decide to vacation close to home instead of driving out of state but the they still need to get to work, school, and the grocery store every day. Consumers will pay whatever they need to for gasoline for essential trips. If gasoline prices stay high long term consumers will buy smaller cars, move closer to where they work, carpool, and use alternative transportation but instead we grin and bear it when prices are high but as soon as they come back down we are again happy driving SUVs, full size pickup trucks, and having long commutes.

More Like This
Ask an advisor one-on-one!
Advisor

IPO Share Price

Finance, Investing, Stock Market

Advisor

Avoid Leaving Money

Savings, Shopping, Finance

Advisor

Business Leads World

Finance, Lead Generation, Small Business Services

Advisor

Easy Fundraising Cards

School Fundraising, Church Fundraising, Non-profit Fundraising