blewmeanie said:

Thats not completely true, Federal, and State taxes account for up to a third of the price you pay at the pump.

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makaveli8x8 said:

lol so what is it exactly that your saying affects the price of oil then?

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or are you just playing the technicality of gas is directly linked to oil prices and nothing else?

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makaveli8x8 said:

ok well then "technically" your right by the loop hole, gas prices are directly related to oil prices....but the oil prices can and are manipulated by many many people which hence affects gas prices

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makaveli8x8 said:

further ill go on to say that gov/automobile/and or oil companys have had the greatest effect on my gas prices for me personaly this year than anything else.

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The single largest entity impacting the world's oil supplies is the Organization of the Petroleum Exporting Countries (OPEC), a consortium of 13 countries: Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

Together, these 13 nations are responsible for 40 percent of the world's oil production and hold the majority of the world's oil reserves, according to the Energy Information Administration (EIA). [source: EIA]. When OPEC wants to raise the price of crude oil, it simply reduces production. This causes gasoline prices to jump because of the short supply, but also because of the possibility of future reductions. When oil production dips, gas companies get nervous. The mere threat of oil reductions can raise gas prices.

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makaveli8x8 said:

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tell me WHY DOES OPEC WHAT LOW GAS PRICES?????? 

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niteowl said:

If America's economy collapses, the world economy will soon follow.

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