Can anyone in the world explain by gas prices are so high?

It's a prtty complicated mix of circumstances I still don't fully understand. Bottle necking at the refining process and shipping shortcommings combined with oportunists in the refining industry is my initial assesment. You seem to be our resident "oil man", I'd be very interested in hearing your take on it as well as maybe your predictions for the summer, what do you see the gas prices reaching summer? I myself don't expect to see 4 dollar a gallon gas again this summer, but I a m also pretty sure we haven't seen the top end of the price climb yet.

Yes there is a very good reason for the high gas prices. It's called greed. The oil companies learned that a lot of people will cut back on buying gas if the price goes over $4 a gallon. This time they are going to easy the price back up to about $3.75 a gallon and stay there a while. When we have learned to live with that they will ease it up a little more. They raised the price of gas too fast but if they raise it slowly they can get it back over $4 and the people will pay it. Why does our government allow this? Far too many of the elected are connected to the oil business in one way or the other and it is putting extra profits in their pockets. Art

Your responders above are all correct, but my question is: Why are the politicians not jumping up to invetigate price gouging THIS time? Last year at this time the % profit per barrel was considerably lower but politicians scrambled to say they would ge to the bottom of it! Are they less concerned because this is such a minor election year (as opposed to last year), or are they excited to see at least one sector of the big business economy actually prospering. Do they think oil companies can drive up the economy by driving up their profits?

$2.90 - consider yourself lucky, here in the Uk it is $8.60!

I would think that it's an effort by the oil companies to maximize their potential for as much profit as possible during the peak summer driving season. As you have pointed out, supply is high but demand is still low. I don't think we'll see $4 a gallon again but they'll inch it back up as much as they can get away with.

As you said they are expecting a loss in the second quarter. Gas prices are going up to take advantage of the people traveling. People travel in the summer and all these rich bassturds (spelled for posting but pun is good too.)are just plain greedy. The gas prices should be around $1. Because we will pay the prices and no one will find an alternative the gas prices can continue to rise. Darn OPEC.

I just read that supposedly during the summer time they use a different blend of gasoline because of the higher temperatures I guess. I think it's just because they know people will travel more in the summer time, and use more gas for boating and other recreational vehicles, so they jack up the prices. And, just plain old greed as well. I expected it to happen, knew within a few months of Nobama taking office it was going to shoot back up. Driving home early this morning from work, the cheaper gas stations were at about 2.37 for E10(I'm in middle TN). We have one gas station left that still has "real gas" with no ethanol, and they're always a few cents higher, they were at 2.46. I would recommend to anyone that still has stations around that carry "real gas", and if it's just a few cents difference, fill up there. I've noticed I get much better gas mileage with real gas compared to the E10 ethanol B.S. they're touting. Why should I pay more for their "new gas" that gives me cr*ppy mileage, and I have to fill up more? Apparantly the oil companies, OPEC, and the refineries didn't learn their lesson from jacking up the prices so high last year, and maybe we need to cut back more on our usage again to send a message to them. I know I don't go out unless I absolutely have to. I'm so sick of hearing how "cheap" gas is now compared to years ago and inflation. Well, it's hitting my pocket book to the tune of 60.00 a week in gas to go to work, granted I drive 50 miles one way, but still, it's ridiculous watching it go from 20.00 to fill up my tank a few months ago to almost 30.00 a tank now. Same thing that happened last year when it was near 4.00 a gallon here. We are so screwed as a society in letting all these politicians and their rich comrades take control of our lives. Life is not going to get any easier or better anytime soon.

It is about greed and the stock market which politicians are heavily invested in one being oil. If Oil prices climb they make more money, they don't care about the rest of us. As to the person from the UK yeah you have high prices too but you have a better health system, higher wages and you don't drive as far and you have a terrific public transportation system. None of which we have here in the USA. People are losing jobs here and many are NOT going on vacation or traveling except those with incomes over $35,000. The elderly and large families and poor are not making it as it is. Obama and the rest better do something. We in USA are NO LONGER UNITED. IF EVERY employed person refused to drive or go to work just ONE day or two or three the gas prices would come down. Employers cannot fire everyone. They would scream. Or if most would NOT buy gas for a whole week. They would come down. It has to be a chain reaction for them to get the message. Enough have to say NO not anymore. Don't go to work, don't drive, don't buy gas, stay home. Send a message. The reason is pure greed. There is plenty of oil and more for years into the future. As to driving other cars how about we all go back to horse and buggy that would take care of a lot of problems world wide. Pollution, Ozone, Enviroment, Social life and more, health, more people would exercise. But well we know that is not going to happen. The government thinks carpooling or taking the bus is the answer. They have their head in the sand. USA is primarly rural with some large city tracts. But lots of people live rural. No public transportation available and most cannot car pool due to different work places, locations and schedules. It is unrealistic but they think it is real. They have nor clue. The lawmakers don't get it at all.

The Dollar has taken a hit under Obama's Socialisim thus it takes more of it to buy anything.

One of my friends who get a ride with to and from work was lamenting the same thing here just yesterday. Motorist are paying nearly $80 Jamaican dollars per litre of oil(really less than US$1 at the moment). We keep on hearing about an increase in the US Golf reference price (or something to that effect) and that always spells bad news for us. In addition to that we are now paying a gas tax which adds to the increase in gas prices. I do not undersand it all but gas prices here are certainly climbing steadly back to the price we were paying when we were facing a worldwide crisis.

Funny...people were worried about gas prices that could go up in a matter of hours anytime. Some discoveries relating to other natural sources that could help us reduce our dependency on gas has been reported once in a while. My only question is...why it failed to generate governments help and interest. Maybe because gas taxes are more lucrative...I don't know the real reason. If our scientist can fly to the moon with the billions of money expenses taken from the taxpayers. How could they not do some experiments to help us get rid of being dependent in gasoline. This really sad.

Maybe it is hard to find the source of oil or gas and hard to produce it.So that's why the supplier take high price for it.If the price is too low,maybe rich people will use and buy it many time without worry about it and make it finish faster.Think about it deeply...thank you.

Hello, I just think it is down right pathetic to be honest, and it is just a way to make more money. I mean come on gas stations has to be the number one money makers around. Look at it this way you , don't pay for gas you don't go anywhere. Do you notice how in particur gas prices goes up during the summer months? That is because do the most traveling during the summer,so they figure they raise the gas prices the more they will be paid, it is a shame but that is how thingts are set up these days. Oh I forgot to mention earlier on that gas is $2.90 where I live. Happy My Lotting!

May be source pf gas now its hard to find. and the demand is increasing every year as the population is increase very fast. so i think people now must think for alternative way source of energy not only in gas