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Subjects>Business>Economics

How does dependency on oil affect gas prices?

Anonymous

∙ 15y ago

Updated: 12/9/2022

Since there is a constant need for oil the people who sell the oil may raise the price on Oil to make profit in result it rases gas prices.

Wiki User

∙ 15y ago

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Q: How does dependency on oil affect gas prices?

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Continue Learning about Economics

Who regulates fuel prices?

Many entities control gas prices. When the U.S. government places tax on gas that is a price control. When the U.S. government keeps oil companies from drilling and building refineries, or making the cost exorbitant, that affects gas prices. When the Middle East countries cut back the amount of oil they drill for, that causes gas prices to rise. The evrironmentalists, putting heavy regulations on gasoline raises gas prices. These are just a few that affect the price of gas.

Where can you get MOPS oil prices?

The MOPS oil prices can be found on the Platts website. It has current prices for oil, natural gas, and coal. The prices change on a regular basis and are constantly updated.

Can a mayor lower gas prices?

No. Gas prices go up and down with how much the barrels of gas from the oil companies cost.

Who is gaining from the rise in oil and gas prices?

the government

Why do high oil prices affect food prices?

transportation of food takes oil to get it around to your local grocery store therefore driving up food prices.

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Related Questions

What are societal changes that affect the family?

prices rise gas goes up oil rises in price

Who regulates fuel prices?

Many entities control gas prices. When the U.S. government places tax on gas that is a price control. When the U.S. government keeps oil companies from drilling and building refineries, or making the cost exorbitant, that affects gas prices. When the Middle East countries cut back the amount of oil they drill for, that causes gas prices to rise. The evrironmentalists, putting heavy regulations on gasoline raises gas prices. These are just a few that affect the price of gas.

Who influences gas prices?

Oil and natural gas companies.

What are things that affect oil prices in 1945?

no

Which is cheaper oil or gas?

It depends on the current market prices, but generally, gas is cheaper than oil.

Do gas prices depend on oil?

yes

Where can you get MOPS oil prices?

The MOPS oil prices can be found on the Platts website. It has current prices for oil, natural gas, and coal. The prices change on a regular basis and are constantly updated.

Can a mayor lower gas prices?

No. Gas prices go up and down with how much the barrels of gas from the oil companies cost.

What will the gas prices be in 2014?

$3.91 will be the gas prices for 2014. due to the fact that we keep having oil spills.

What are three things that affect oil prices in 1945?

no

Who is gaining from the rise in oil and gas prices?

the government

When will gas prices start going down?

only time gas prices will go down, is when people stop buying gas, causing the oil companies,loss of revenue. could also go down if the usa oil companies stopped selling American oil to japan and china ,then we would not need to import oil from OPEC gas prices will never go down!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! so true gas prices will never go down!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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