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how much has gas gone up where you live?

here in Miami, FL it has gone up from $1.61 to $1.87 in the last 2 weeks. What makes gas prices go up? I though it had to do with the price of oil but yesterday in the news it was sais that oil dropped to $38 a barrel. So oil continues to drop but gas prices are going up. Anyone has more information on how this works?


Asked by ny.chica at 9:13 AM on Jan. 14, 2009 in Politics & Current Events

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Answers (15)
  • Mine went up 30 cents. It is because OPEC agreed to reduce production in response to less use, which was driving the cost down. Actually, it is a good thing - it helps prevent deflation. They are saying that it shouldn't go above $2.00 until the end of the summer. But, I doubt that too. :)

    Answer by Fiveofakind2 at 10:45 AM on Jan. 14, 2009

  • in pennsylvania its 1.79

    Answer by jodi205 at 9:14 AM on Jan. 14, 2009

  • it was 1.45 now it 1.54

    Answer by BallardMomma at 9:14 AM on Jan. 14, 2009

  • Here in Burleson Texas it was $1.56 yesterday.

    Answer by Aidansmom2728 at 9:14 AM on Jan. 14, 2009

  • OP--
    The cause for gas prices going up and down is SUPPLY and DEMAND!!! It's a simple economic principle that MANY simply cannot grasp!

    When something is in high demand...those who sell that product can and will RAISE the prices! When something is readily available, the price goes down.

    Those controlling oil distribution KNOW this, which is why they, often on a whim, decide how much oil to distribute or not!

    Last summer/fall, when it became apparent, that Americans (in particular) were curbing their fuel usage and seeking alternative methods of transportation (walki, bike, scooter/motorcycle, bus, etc.), a SURPLUS of oil became available, so to UNLOAD the surplus, prices went down. Everyone thought it was because of Obama...but, sadly, HE isn't responsible for anything! Now that the surplus is dissipating, the prices are going back up!

    Get it?!

    Answer by Anonymous at 9:21 AM on Jan. 14, 2009

  • thanks anon. I do understand that principle taht's why I'm a little confuse. according to the news oil prices dropped because the demand for gas dropped. so if the demand for gas dropped why is gas going up?

    I don't know anyone that gave obama credit for that.

    Answer by ny.chica at 9:28 AM on Jan. 14, 2009

  • Ours was 1.48, now it is 1.69. Supply and demand is true however our demand hasnt gone up. The reason that gas prices have increased is due to issues in the middle east & the saudis dropping production to raise costs.

    Answer by gemgem at 9:33 AM on Jan. 14, 2009

  • im in virgina and it has been as low as .98, for about 3 days then it went back up to $1.03 now its back to $1.62

    Answer by Candice_brooke at 10:00 AM on Jan. 14, 2009

  • I believe here in N GA, its holding at $1.65. Our demand has not gone up but with oil prices bottoming out, they have cut production. Just their way of jerking us around (the middle east, that is). I think people got really desperate over the summer and fall and we have changed our habits. I know I have.

    Answer by momofsaee at 10:13 AM on Jan. 14, 2009

  • Ours keeps fluctuating a bit here in TN, right around $1.70

    Answer by KnoxvilleDoula at 10:15 AM on Jan. 14, 2009