Can anyone explain to me why gas is still rising?

[23]

Are people driving that much more? Are there more hummers out there than ever before, did somethign special happen over the past month or two to warrant gas going over 4 dollars a gallon.

I don't drive more than I usually do and all of a sudden I feel punished and can't figure out what it is that gas can creep up faster than a wolf on his prey.

[Eton Rifles]

Re: Can anyone explain to me why gas is still rising?

rampant speculation. thats the biggest thing. plus with the amount of oil China and Indias are using the supply is not as abundant as it once was.

[fishepa]

Re: Can anyone explain to me why gas is still rising?

The soaring prices of gasoline are dependant on how much people "worry" about things that may or may not happen. It's stupid.

[23]

Re: Can anyone explain to me why gas is still rising?

Its just a projection?

Gas went from 40 bucks a barrell all the way to 120 bucks a gallon on a worry?

Good Lord

[JohnDoe8865]

Re: Can anyone explain to me why gas is still rising?

The price is getting ridiculous and it all goes back to one thing to me. I'm not going there right now, but it is making it very difficult to drive anywhere and still have anything left in the ol' wallet.

[SPTO]

Re: Can anyone explain to me why gas is still rising?

Last I heard (late last week) these are the factors for gas rising right now:

1. Rampant speculation: This is the same old story so no need to expand upon this point.

2. An important pipeline in Africa was attacked by some guerillas/terrorist types. I don't know what to make of this as they always say "oh a pipeline's been busted blah blah blah" This could all be BS.

3. China: China is importing more oil and gas then ever before. In fact, last week they broke the record for most gas imported by any nation in history. China alone is going to keep gas prices high because they're straining the oil supply with their demands.

[fishepa]

Re: Can anyone explain to me why gas is still rising?

Last I heard (late last week) these are the factors for gas rising right now:



2. An important pipeline in Africa was attacked by some guerillas/terrorist types. I don't know what to make of this as they always say "oh a pipeline's been busted blah blah blah" This could all be BS.

I read that too, but honesty, how the hell does that make oil more expensive for the whole world. It's all BS.

[Herbsinator]

Re: Can anyone explain to me why gas is still rising?

I'm past the point of getting upset about gas prices. I have accepted the fact that I'm going to get screwed at the pump so I'm not going to waste my time and energy worrying about. Maybe this will just make people drive less...

[ProStylez]

Re: Can anyone explain to me why gas is still rising?

Gas in some spots around here went up 15-20 cents overnight! We are now up to $3.81 in some spots.
I bet these prices go down once Bush is gone.....I bet!

[Dice]

Re: Can anyone explain to me why gas is still rising?

2. An important pipeline in Africa was attacked by some guerillas/terrorist types. I don't know what to make of this as they always say "oh a pipeline's been busted blah blah blah" This could all be BS.

It funny you mention this because oil from Africa is very important. You have to look at it from a standpoint of geography and total oil production from the countries in Africa.

There is no secret that Saudi Arabia is the biggest oil exporter in the world. However, do you know it takes about six weeks to get the oil from the Middle East to U.S. soil? Where as most of the oil exporters in Africa(with the exception of Egypt) are in West Africa. And it takes only two weeks to get oil imported from Africa to U.S. soil.

The biggest oil importers from Africa are as followed: Nigeria, Algeria, Libya, Egypt and Angola. Nigeria is the sixth largest oil exporter in the world. Angola is 9th. The U.S. exports from all these countries. These countries total more exported oil than Saudi Arabia.

[fishepa]

Re: Can anyone explain to me why gas is still rising?

Gas in some spots around here went up 15-20 cents overnight! We are now up to $3.81 in some spots.
I bet these prices go down once Bush is gone.....I bet!

No political talk. Thanks

[ZB9]

Re: Can anyone explain to me why gas is still rising?

It funny you mention this because oil from Africa is very important. You have to look at it from a standpoint of geography and total oil production from the countries in Africa.

There is no secret that Saudi Arabia is the biggest oil exporter in the world. However, do you know it takes about six weeks to get the oil from the Middle East to U.S. soil? Where as most of the oil exporters in Africa(with the exception of Egypt) are in West Africa. And it takes only two weeks to get oil imported from Africa to U.S. soil.

The biggest oil importers from Africa are as followed: Nigeria, Algeria, Libya, Egypt and Angola. Nigeria is the sixth largest oil exporter in the world. Angola is 9th. The U.S. exports from all these countries. These countries total more exported oil than Saudi Arabia.

we get a lot from South America also

[ZB9]

Re: Can anyone explain to me why gas is still rising?

The soaring prices of gasoline are dependant on how much people "worry" about things that may or may not happen. It's stupid.

there are a lot of factors and that is certainly one of the main ones imo

i wonder how much lower the price would be if we didnt have oil futures trading on the stock market? I imagine it would be significantly lower. Oil futures trading is where the "worrying" about certain world events and developments becomes such a factor.

[TheMatrix31]

Re: Can anyone explain to me why gas is still rising?

I'll gladly pay more if it means less traffic in LA. Hopefully as prices rise, people stop driving around just to drive.

[p_rushing]

Re: Can anyone explain to me why gas is still rising?

I wouldn't put it past OPEC to "attack" their own pipelines to drive the prices up. It creates a lot of concern and people worry about it.