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No. Gas prices have not caused this recession. This is because of the severe credit crunch.
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∙ 15y ago
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Why is Florida gas prices is high?
Gas prices are high everywhere nowdays because it is getting harder to find it.
Was the economy good in the 1970s?
No, there was a terrible recession in the 1970s and a horrible gas crunch caused by propaganda. The recession cause prices and realty to skyrocket. Unemployment was high too. Many women HAD to go to work in the 70s because of the recession. It became hard for a couple to survive on one paycheck. Some investors lost a lot of money then too.
What does Mitt Romney think about gas prices?
He thinks they are to high to so he is going to lower the prices of gas
What are the current british gas prices?
"The current british gas prices are very high. They start off with 10 pounds a galon. If you are not willing to pay super high gas prices like in London, you may have to relocate."
Why are gas prices high but demand is low?
Because no one wants to buy it due high prices.
Why have the gas prices have gone up so much lately?
America's supply from other countries is now less than 5%. Gas prices have gone up because the amount is low and the demand is high. Also, since the gas prices have gone up, so has everything else. Food, electronics, electricity bills, etc. The high price on gas affects everything. I think America has to get off oil, and find some other resource to power our things. If we don't, we might find gas prices at over $5.00 per gallon. And it's just becoming more expensive to find oil and gas, so again, that affects the price of the gas. High demand, low amount. That's what is causing the high gas prices.
When were the gas prices so high we waited in lines for gas?
1973?
How much the oil cost now day?
Right now present time of February 2011 crude oil is about $100 a barrel, which is high and if it gets any higher it will send gas prices soaring and add to the current recession.
How high were gas prices?
Where and when, this is too vague a question.
How high are the gas prices right now?
400.00
What kind of relationship does demand have with prices?
the relationship demand has with prices is that when the demand for a product is high the prices go high as well, like gas and food....
When Obama was president elect did the prices for gas go up or down?
When Barack Obama was elected president in 2008, gas prices actually decreased. This drop in gas prices can be attributed to a global economic recession at the time, which resulted in lower demand for oil and hence lower prices.
