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Gas Prices Around The World
 As we fill up gas everyday, many of us wonder how exactly is the gas price determined, and whether the gas prices around the world are the same. What is that makes the gas prices around the world so different and why some nations have every high gas prices while other nations have moderately priced gas. More..
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Will Gas Prices Ever Go Down ?
Gas has become very expensive in the United States and the rest of the world. People are wondering whether gas prices will ever go down. Most of us are keeping our fingers crossed by according to analysts, the rapidly rising demand from countries like China and India couple with limited supply will create a scenario where the prices will rise still further rather than falling. |
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However, there are many factors and drivers that govern the gas prices. Here are some of the reasons why gas prices will be high indefinitely.
- Gas is made from crude oil which in turn is created from fossils. Fossil fuel supplies are decreasing and major suppliers will probably run out of crude oil during our life time.
- Political unrest in Africa, South America and Middle East is affecting export of oil and driving the price up via the stock market.
- A large part of the money that you pay for gas at the gasoline station is taxes. Given the current economic situation in the US, the government cannot afford to decrease taxes.
- OPEC, the cartel that controls the major supply of crude oil continuously keeps the oil prices high to increase it profit. The OPEC countries can directly impact and influence prices of gasoline by increasing or decreasing production of oil.
- There is an increase in demand for gas. People are buying more cars and in developing countries like India and China, the living standards have increased tremendously. These people are now investing in cars and form a sizeable chunk of the population of their respective nations.
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