Gas Prices Are Rising Because Supply and Demand For Oil Determines Gas Prices

The political noise machine operated by Fox News and others is attempting to blame the increase in gas prices on the Obama Administration. This article explains the real reason for the increase in gas prices. The price of gasoline is closely related to the price of crude oil. In turn, the price of crude oil is a function of supply and demand. Oil producers are operating near capacity, but demand for oil has been increasing faster because of rapid growth in emerging market countries. That is driving oil prices up and oil prices will continue to rise because the supply of oil is growing slower than the demand for oil. Get used to higher oil and gas prices, we can't repeal the law of supply and demand.