Title: Why Gas Prices Are Rising So High - Reasons for Fluctuations
Headings: Why Gas Prices Are Rising So High – Reasons for Fluctuations
Why Gas Prices Are Rising So High – Reasons for Fluctuations
Why Gas Prices Go Up or Down
1. Changes in Crude Oil Prices
Seasonal Changes
Foreign Affairs
International Trade
Price Manipulation
Currency Changes
Advances in Technology
Development in Emerging Countries
2. Changes in Refining Costs
3. Problems With Distribution
4. Changes in the Gas Tax
Federal & State Taxes
The Impact of Carbon Taxes
Final Word
Make
Money
Manage
Money
Save
Money

Content: Price Manipulation
Countries that are major oil producers can deliberately choke off the supply of oil to drive prices up. The nations of OPEC (the Organization of the Petroleum Exporting Countries), along with Russia, did that from 2017 through 2019, as National Public Radio reports. The move succeeded in halting a steep slide in oil prices, but its effect was limited, as OPEC’s share of the oil market had declined. Oil-producing nations aren’t the only entities that can manipulate the price of oil. Speculators, individuals, and companies that trade oil futures for profits can bid up the oil price just like they can with any other commodity. As noted above, many pundits blamed speculators for rising oil prices in 2010. However, the Federal Reserve estimates speculation accounted for only 15% of the run-up in prices from 2004 through 2008. Currency Changes
Changes in the strength of the U.S. dollar also play a role in the price of oil. When oil is sold on the world market, it’s priced in dollars. Thus, when the dollar is strong, the price of oil in dollars goes down.