Gas is expensive (Like we didn't know)

Well maybe it isn’t that expensive but it certainly has fluctuated a lot in recent years. What used to cost 75 cents a gallon now costs 75 cents a drop. People are forced to take drastic measures when money is tight. Just the other night a man at the gas station was attempting to sell a pair of Ray Ban’s to get even a quarter tank of gas. Gas money is especially tight when you drive a gas guzzling jeep like my family. Yes, gas is indeed expensive but why is it expensive? Due to the steady inflation of oil prices, less people could afford to buy gas. Not to mention many people began to loose their jobs, which reduced the number of people driving everyday. It wasn’t until the economy began to steady out that people began buying cars and gas.

     Gas is currently the cheapest it’s been since 2009 prompting more people to drive places. However, if 2009 has taught me anything it’s that gas can’t stay this cheap forever. Even so, people like me who combine credit cards, cash, and quarters to earn themselves enough gas to get home welcome the slight reprieve. Americans are saving on average $540 dollars on gas. CNN speculates that people are spending around $10 per fill up. They must all drive fiats because I assure you $10 wouldn’t fill a jeep. Maybe everyone is buying Fiats because their savings from cheaper gas allows them. Currently oil prices are at a 12-year low resulting in much cheaper gas.

       Why are oil and gas prices falling? Apparently foreign trade partners couldn’t reach a decision on how much oil to export so the solution was to send an outrageous amount. In an attempt to sell the surplus of oil they have lowered the prices to around $35 per barrel.  This is being heavily affected by changes in the markets of countries like China and Saudi Arabia. Places like China handle the surplus oil but have halted their markets due to sudden changes in their stocks. It leaves me to wonder if now there are just hundreds of barrels of oil sitting around. If so, why have prices been so high if there’s enough to just practically give away? Why aren’t we using this surplus oil and how much would gas cost if we just put it all on the market?