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2 Bumps

Why do some people believe the President controls the price of gasoline?


Asked by Justmom223 at 4:57 PM on Jan. 8, 2011 in Politics & Current Events

Level 14 (1,432 Credits)
This question is closed.
Answers (43)
  • Sorry, NP, there *are* people that blame the President. I just wasted time in discussion over EXACTLY that with family member last week. He got his (mis)informtion from a slew of blogs and slanted e-media outlets. There are plenty of people that blame the President or who at least lash out that he hadn't done enough to lower prices -- as if it was under his control. Fwiw, these same people did not say such things when Bush was in office. Not that others didn't. I don't like *this* President but he's got very little to do with the price at the pump.

    OPEC wields control over per barrel pricing. Speculators in future's markets have sway over pricing. A long layer of corporations taking their profits (which is hardly wrong for them to do) influence pump pricing. State and National environmental requirements influence pricing. Taxes impact pricing.

    Answer by ldmrmom at 9:36 PM on Jan. 8, 2011

  • They had very litttle to do with the market.

    Do you know what a policy is? Are you aware of who appoints the people who run the organizations that determine where oil companies get permission to drill? Do you know who signs laws that impact taxes on both oil companies and consumers? You seem to lack any knowledge of how the economy works at all.

    Answer by NotPanicking at 5:10 PM on Jan. 8, 2011

  • as such we do not control the barrel market price.

    The barrel market price has very little to do with what you pay at the pump. Neither does profit margin. It is tied inexorably to refining and supply, which is dependent on where they can drill, how much they can drill, how much they can process and where they can process. These are ALL things reliant upon the consent and approval of laws and agencies which are all the direct or indirect responsibility of the president. He appoints the directors of the regulating agencies, he sets the policies guiding what they do, and he signs the laws and issues the executive orders. He determines the rate and extent of cleanup after natural disasters in our oil producing regions, and he determines our foreign policy with other oil producing nations. It's not about "blame Obama" for the exact price - it's about trends and policies and their current and future impact.

    Answer by NotPanicking at 5:24 PM on Jan. 8, 2011

  • I guess too many of you are watching Glenn Beck, Rush Limbaugh and Sean Hannity.

    Who watches those idiots?

    Answer by NotPanicking at 5:26 PM on Jan. 8, 2011

  • You're the one throwing down bullshit, Justmom. Obama's Policies DIRECTLY and INDIRECTLY affect the price of gas. I'd explain it, but NP has already done a fabulous job.

    I could probably do some smaller words if you want. (gotta get it on that sweet down vote action.)

    Answer by lovinangels at 5:31 PM on Jan. 8, 2011

  • From the same academic journal which also cited this one

    • 40 - 55 per cent is crude oil costs (the raw material for making gasoline and diesel fuel)

    • 25 - 35 per cent is federal, provincial and municipal taxes and the GST

    • 10 - 25 per cent is the refiner's margin (the difference between what it costs to buy crude oil and the price refined gasoline sells for in the wholesale market which, in turn, is influenced by supply and demand)

    • 4 - 6 per cent is the marketing (or retail) margin that covers retail stations’ expenses and profits.


    Answer by NotPanicking at 5:39 PM on Jan. 8, 2011

  • I don't think anyone believes that

    Answer by itsmesteph11 at 5:03 PM on Jan. 8, 2011

  • Im not sure but I remember a whole lotta people blaming Bush when prices went up too. Hmmm

    Answer by gemgem at 5:18 PM on Jan. 8, 2011

  • Because it's tidy having one face to blame, rather than understand the complex system of investors, cartels, bidding wars and international markets, which is hard.

    Answer by LindaClement at 5:20 PM on Jan. 8, 2011

  • Have you noticed where MOST of our oil comes from? OPEC countries.

    Are you suffering the delusion that oil from OPEC countries goes into your gas tank? The fluctuations in crude oil account for a few cents of the fluctuation in the price of gas. The bulk of the cost is in processing and delivery.


    Answer by NotPanicking at 5:31 PM on Jan. 8, 2011