Posted in portal.gznq.com | edit | March 15th, 2010
I was just watching on Fox 5, gas price is now 1.87 per gallon? HOW? The economy is really bad, and it was so much higher...? What happened?Well the media and other sources like us to think that the war or other forces effect the gas prices. Really there is probably something political to it. I remember the last elections for Congress the gas went really low, and, later on, it went back up. Once again elections and low gas prices...its all political. Corporate agendas use lobbyism and other resources control the gas prices...and a lot more than we think they do.You know I'm not very sure but we should just enjoy it while it lasts.The price of gas always drops after summer. This summer the price went very high due to speculators putting money into oil because is was a safe bet but gas prices went too high and people adjusted by driving less. This brought demand down which shot supply up and dropped the price. Don't worry though prices will go back up next summer. exactly because the economy is bad that is the REASON for low gas prices
i learned it in economics class
answer my question plz
http://answers.yahoo.com/question/index?...The price of oil was 147 dollars a barrel a few months ago. Today that same barrel sells for about 53 dollars. Gas is made from oil.
A sharp drop in demand caused the price of oil to drop. It's related to the recession.
I paid $1.57 today in Dallas.For the tenth time... it is supply and demand1. Demand is lower then it has been, thus reducing prices as there is more than enough oil to meet our needs.
2. The speculators have gotten out of the market. More then anything, speculators were responsible for the massive upswing in oil prices.
3. The economy does play a role as well. People have less money to spend and so people drive less and spend less on fuel.Because of the bad world economy the large industrial users of oil have cut way back. That has decreased demand which caused prices to fall. Don't get used to it.It was reported that world wide demand has drop
The economy is very bad currently, many are postponing holidays and unecessary travel. Many industry sector are hit and production generally went down. If these industry that depends on petroleum slows their production down, demand for petroleum drops too.
And its a global issue, not just in the US.
During the petroleum price crisis, They had to increase production to help the rising price. Then out of a sudden, US economy was hit, and everywhere else around the world follows like a tumbling domino. So petroleum demand suddenly drops after the petroleum production went up. Obviously the price is going to fall#If you have any other info about this subject , Please add it free.# |
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