contribute to rising gasoline prices. The major cause for increasing gasoline prices has to do with refining capacity. Even if oil were inexpensive, we would still have a problem converting it into the gas that fuels our economy. That is what keeps the gas prices high. When gas supplies are short, due to an “inability to refine crude oil into gas efficiently,” prices increase. This is a component of supply and demand economics. In a positive aspect, rising gasoline prices do serve a purpose;
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Rising Gas Prices Tabitha Walter BUS 308 Statistics for Managers Dr. Larry Pace Rising Gas Prices Each day our company sends out several vehicles to make deliveries to our customers. These vehicles come in several different sizes and fuel cost varies with each vehicle. In the year 2000 gas prices averaged $1.51 per gallon and as of May 2012 the average gas price is $3.79 per gallon. This is an increase of $2.28 per gallon in the last ten years. There is a need to look forward to the
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Stop Rising Gas Prices COMM/215 May 12, 2012 Stop Rising Gas Prices In 2012, the current national average for regular gas has risen from three dollars and 78 cents to more than four dollars a gallon in the last two months. What could be the cause of rising gas prices in America? Some may say that the war on terror is causing these rising gas prices you pay at the pump. Others may blame the shortage of oil. Truth be told, the government plays a tremendous role in your gas prices in America
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2005 the price of crude oil averaged $50.23 per barrel. In comparison, the average price for crude oil in 2004 was $36.98 per barrel. Fast-forward to the present, and the price of crude oil averages $77 per barrel. Additionally, taxes account for approximately 19 percent of the cost of a gallon of gasoline. In my state of Washington, each gallon of gas is taxed at 54.4 cents 1 and the average cost for a gallon of gas is $2.93 2 Even when crude oil prices are stable, gasoline prices normally
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Rising Gas Prices: A Better and Cleaner Earth Essay 2 Embry Riddle Aeronautical University Professor Christine Hansen English 123 May 22, 2007 Abstract The cost of gas has rapidly increased in the recent years. But what most people do not realize is that rising gas prices is a good thing. Most people see gas prices as a thing to hate but in reality it leads to major innovations. Not just better cars but a better environment. The future automotive industry is fueled by the cost
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US independent oil and gas companies have responded to the recent spikes and increased volatility in oil and natural gas prices by stepping up the practice of price hedging to shore up earnings and capital spending. Hedging can be a tricky practice to manage, and guessing wrong on price can do a lot of damage to a company's bottom line. The depth of the recent plunge in US gas prices caught virtually everyone by surprise, so some producers have succeeded nicely with what historically might have
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Gas Prices and the Economy The marketplace of supply and demand determines the price of fuel. If demand grows or if supply decreases, there will be an increase in pricing. On the flip side, if demand declines or if there is a surge in supply in the market, there will be a decrease in pricing. If a retailer in the market prices its gas too high without regard to competitors’ pricing, consumers will take their business to the competitor with lower prices. If the retailer loses enough business
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Today’s rising gas prices is a great concern for me in the economy we are in at the moment. The United States has a national debt level over 14trillion dollars and talk from many politicians is to raise taxes to pay for that debt. With that lingering in the back of our minds we have gas prices at the front. For many of us gas is a necessity to get from point A to B for many reasons such as, work, go to school, go to the grocery store, and doctor visits. These are reasons we cannot afford to miss
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Phoenix Material Reliable Sources Worksheet Locate two sources in the University Library on a topic of your choice. Provide the required information for both sources. Source 1 Author: Matt Olberding Date: July 13, 2007 Title: Rising Water, Rising Gas Prices Publication: Lincoln Journal Star Write a 100- to 150-word response to each of the following questions: Is the source reliable? How do you know? Yes this source is reliable. We know this because this source includes the author
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not decrease the increasing price in gasoline, the demand for world oil is a cause in higher gasoline prices. Society would not be able to use transportation in vehicles if gasoline became extinct. People would have to resort to the old fashion method of transportation like riding a bicycle, walking, or creating an alternative method to mobilize their vehicles. Boycotting the increasing prices of gasoline through refusing to purchase will not lower the prices at the gas stations; however, the government
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