Price of gas/oil question?

I know supply and demand are major determinants in the pricing of EVERYTHING. However, from 2002 to present the price of oil increased from $20 to $125 per barrel. I have also seen that in Euros, oil has increased from 20 to 60 Euros in that same time. Does this mean that roughly only 50% of the increase in price per barrel from 2002-present is due to supply/demand/speculation, while the other 50% is due to the devaluation of the U.S. dollar compared to other currencies (such as the Euro)??Price of gas/oil question?
To avoid this all together we need to get fuel efficient vihicles and conserve driving use. You are right on and I hope the dollar goes up and that this crisis ends. To be perfectly honest though I bought a bike last summer and since the whether is nice I barely drive. I just strap on a backpack and go. And I have lost 30 pounds so. pretty cool huhPrice of gas/oil question?
There is a major problem in the world right now that overwhelms the supply/demand ratio, and gets little to no major press coverage, because the same people that control the press control the prices on almost all commodities including oil.





There are only 3 places in the western world that 'SET' the price of oil.





London, New York, %26amp; now Dubai.





Very wealthy investors bid up the prices, { on oil futures contracts } and bid up the prices, and bid up the prices......
What it means is that China and Russia's use of oil has quadrupled over the past 6 years, which increases the demand. The supply has not increased, which means the cost HAS increased. With the end of communism in Russia, those states all fell apart, and are now rebuilding and experiencing a boom in capitalism. With this, comes the use of much oil. More people over there are buying cars, and buying gas. Also, bigger homes, which cost more to heat.





And the second part, yes, the Europeans combining their money into the EURO has caused the decrease in the American dollar. But also, our borrowing from other countries to pay our bills has contributed. We as a nation need to cut spending and pay off our debts.
dude,get beyond the smoke and mirrors.we have more oil than the middle east,drill on the east and west coast,alaska and gulf of mexico.the problem is that the libs and eco freaks have killed oil exploration in the USA.estimated reserves are 400 + years.we have the technology to do all this without harming the hair on a mooses a*s*s or killing any f bugs !anyone for $1.24 gas...contact your f politicians and tell these pricks it is time to harvest our own oil!!
I have a theory





Channey and Bush are oil man and have stock in Oil company





It's there last chance to control the prices





I know I will get thumbs down, but I really think that could be part of the oil prices since January
Also take into consideration that as other contries like India and China are becoming more prosperous they are buying more cars, increasing demand.
The Euro has aided in the demise of the American dollar.
We're being screwed by the oilmen - If an Arab stubs his toe the price rises!!! I also have a theory - Wars are expensive %26amp; have to be paid for somehow!!!!
Its Bush's fault. He doesn't care about the average American
Yes, I would agree.
No it just means the Bush and his buddies are getting richer off our hard earned money.