Why Are Gas Prices Rising?

While nearly all Americans are in agreement that there has been nothing but bad news about the price of gasoline in recent months, there is less consensus about why gas prices have been rising. In a poll conducted by the Pew Research Center and the Washington Post, many Americans placed the blame on greed or a push for higher profits among oil companies — 31% cited a variation of this theme as the leading cause for the rise in the price of gas.Roughly two-in-ten (19%) said conflicts in the Middle East, such as the ongoing war in Libya, are to blame for the recent price increase. Another 14% pinned blame on U.S. politics and policy (not drilling enough for oil, the Obama administration) while 12% cited economic and market forces (international demand, time of year) as the main driver of rising gas prices. Read More