Adding it Up: Why Gas Prices are High

By: Import User

Updated: January 7, 2009

Another week, another record-breaking price at the pump. Industry analysts say there are plenty of reasons why. The biggest reason may be demand. The busy summer driving season is approaching and all signs point to drivers filling up with the same frequency they`ve done in years past. Supply is also driving up prices. OPEC announced that it`s cutting production by a million barrels a day. It`s more than the market, too. Taxes on gas (federal and state) add up to more than 40 cents in Arkansas.

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