Why do some people think the president controls the price of gasoline?
Question by Pink Tresses: Why do some people think the president controls the price of gasoline?
Please state if you do or do not, and who you support in the current election?
This just astounds me and I am hoping one of you can shed some light.
Best answer:
Answer by mikeburns55
Democrats like to pretend that so that they can make the present administration look bad.
I don’t support either Rep or Dem. They’re both part of the problem. A vote for either one is a vote for the status quo.
Add your own answer in the comments!
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about 3 months ago
The President’s actions and policies may effect the cost of gasoline. If we have two oilmen running the country, it gets rather suspicious, ya think?
about 3 months ago
Because they have a impulse to blame someone and President Bush is a nicew target. I don’t agree with some of the things he has done but I know 95% or more of the cost of gasoline is out of the president’s power to contral. Its called Supply & Demand!
Why is China drilling for oil right off the coast of Key West, Flordia? On Cuba’s nothern shore!
about 3 months ago
The president does not control gas prices.
Gasoline price increases generally occur when the world crude-oil market tightens and lowers inventories.
Here’s a break-down. Crude oil – The biggest portion of the cost of gas goes to the crude-oil suppliers. This is determined by the world’s oil-exporting nations OPEC.
Refining costs – The cost of refining diesel fuel can be considerably higher than the price of refining regular gasoline.
The price of transportation is passed along to the consumer. Marketing the brand of the oil company is also added into the cost of the gasoline you buy.
Taxes – Federal excise taxes are 18.4 cents per gallon, and state excise taxes average 18.2 cents per gallon.
Then there is the station mark-up.service stations typically add on a few cents per gallon. There’s no set standard for how much gas stations add on to the price. Some may add just a couple of cents, while others may add as much as a dime or more. This depends upon state mark-up laws.
Then there are environmental laws. Environmental standards that have been in place in some parts of the country for several years require higher environmental standards in order to reduce the amount of smog created by burning gasoline. Producing this cleaner-burning gasoline caused problems in refining, distribution and storage, which increases the cost of gas.
This is the simplified version of why fuel prices are going up.