xg6
Lv 7
xg6 asked in Politics & GovernmentPolitics · 1 decade ago

Why are gas prices now on the decline (not that I'm complaining)?

For the past two years gas prices have been going up and up until the economy was in turmoil. Then they suddenly started going down swiftly. I actually saw a gas station the other day selling for $1.89 a gallon. What's up?

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  • ?
    Lv 7
    1 decade ago
    Favourite answer

    I've seen it for $1.50 here and in October it was $4.

    Gives rise to conspiracy theories about OPEC, in my opinion. We'll get complacent and then they'll put the squeeze on.

    Source(s): We might notice instead that food prices have not dropped, although the rise in prices was attributed to the high gas prices. Don't celebrate cheap gas--you cannot eat it.
  • Anonymous
    1 decade ago

    Every time the gas prices get really high, and everyone is complaining, and people are just a few cents per gallon away from the breaking point, the prices magically come down again and everyone forgets that they were high in the first place.

  • 1 decade ago

    Because as the price of everything on the stock market falls, so does the price of oil. Its now around $50 a barrel compared to over $100 a few months ago.

  • Renee
    Lv 4
    1 decade ago

    They began declining with the upcoming election.

    They had hoped most people would be so short sighted they would forget the high prices when they went to the polls.

    Now that the election is over and a democrat won, they wouldn't dare.

    The good ole boy days are over.

    They try their crap again and they will be investigated like they should have been to start with

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  • 1 decade ago

    Easy. The election. Now that it is over, expect a gradual (to reduce suspicion) increase. I can almost guarantee you that oil will be back up to $100 a barrel by spring, and we'll have $4.00 gas again. Unless,of course, we finally start to relieve ourselves of foreign oil dependence... but I doubt we'll see that for awhile. People are too stubborn and irrational about their "need" for big, gas-guzzling vehicles.

  • Anonymous
    1 decade ago

    The American oil companies overreached and killed the goose than laid the golden egg.

    Now they're backing off because we stopped buying not just oil but everything else as well

    The American oil industry deliberately damaged the economy of this country and consequently, the world's, because they did not know when to be satisfied.

  • Bub
    Lv 7
    1 decade ago

    Manipulation to change the perception of Dub's last term a bit and they will go back up soon after the first of the year, if my guess is right.

  • 1 decade ago

    Election time, and because fewer people want to gas up. It's been lowered to encourage more people to get gas.

  • Anonymous
    1 decade ago

    Demand is off almost 10% by the last report I read. Sorry, no link.

  • 1 decade ago

    i have no idea but its very nice to fill my car with 25 bucks..where i live some places have it as low as 170 a gallon and i have a coupon actually for safeway next time i fill up for 150 a gallon...

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