Who Controls Gas Prices
Open market controls the rise or fall of fuel prices depending on its supply and demand in the worldwide market. Much of this is dependent on hypothesis that can be of an impending war, varying need for oil in different nations and OPEC oil production. People with contracts of oil companies based on their guess work decide whether to increase or decrease the petroleum rates. |
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But along with the contract holders the other agencies responsible for controlling fuel prices are:
- The media which creates speculation and fear in the market of multiplication in rates. Thus it is partly to be blamed.
- Increase in the number of people owning vehicles especially in countries with growing economies.
- Fear of conflict in countries where most of the oil refineries are located.
- Government raising taxes on gas.
- And the most important; supply and demand. As the demand for petrol and crude oil increases, the supply decreases, raising the prices.
So blaming the government entirely for the sky rocketing prices is not fair. A government can’t control entities like oil refineries or the political unease that exists in many Middle East countries. Before reaching the gas station from where you fill your vehicle with gas, the oil has changed hands more than 30 times. Imagine the profit you are paying these 30 people even though it has left a hole in your pocket!
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There seems to be no ease for a daily consumer of gas from the steep rise in gasoline prices. The economy of a nation might be booming but its citizens are finding difficult to manage their finances because of high gas prices. 
