Why Are Gas Prices Rising A Mix Of Reasons Pew Research Center A mix of reasons. as gas prices soar, many americans pin the blame on greed or a push for higher profits among oil companies, speculators and oil producing nations. about three in ten (31%) offer a variation on this theme – greed, oil companies or speculation – when asked what they think is the main reason gasoline prices have gone up. Since 1994, average gas prices have fluctuated between a low of 96.2 cents a gallon in february 1999 and a high of $4.114 in july 2008. the current average price, in fact, is almost exactly what it was in september 2014 – at least on a nominal basis. when inflation is factored in, today’s prices appear more modest.
Why Are Gas Prices Rising A Mix Of Reasons Pew Research Center The oil market. but the major cause of gasoline price increases, as the earlier data show, has not been inflation. the other causes are specific to the oil and gasoline markets. start with oil. the biggest factor in the increase in gasoline prices since january 2021 is the increase in the price of oil. The single biggest factor driving the spike now is the price of crude oil. as of april, according to the energy information administration, the cost of the raw material accounted for 60 percent of. Advertisement. americans are once again feeling pain at the gas pump, and it's because of a classic clash between rising demand and constrained supply. an october report from aaa found that gas. In january, inflation rose faster than it has in almost 40 years. but not all prices are rising evenly. oil is playing an outsize role in the surge. gasoline and jet fuel prices have reached their.
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