Gasoline Price

This paper will dicuss the rising prices on fuel over the past few years. It will involve the trucking industry and explain how the rising of gas prices has effected trucking company. Crude Oil prices have passing over one hundred dollars a barrel. This has effected many independent owners-operators. This article will dicuss why some independent owners have decided that it is no longer profitable to drive a truck. Some owners have taking a different approach with the rise of crude oil. The article will discuss how some owners have reduced horsepower in the engines of their trucks in order to increase profit and have also choice to run day routes in smaller trucks.

Over the past few years oil prices have been dropping. According to the U.S. Energy Information Administration (eig.gov), a barrel of oil cost $86.07 on October 20, 2013. As of October 20, 2015 a barrel of oil

" WHAT DRIVES CRUDE OIL PRICES? " U.S Energy Information Administration. Gov Website. 20 FEB 2013. <

Many seafood companies prices fluctuate because a whole number of reasons. Have you ever thought why though? They even have to take some foods completely off their menus. A lot of the time this is because of an oil spill that kills so much of the environment that a lot of the sea animals die or even become endangered. The BP Deepwater Horizon spill in 2010 is a great example of this. It spilled 200 million gallons of crude oil into the Gulf of Mexico in 87 days. The area of the spill alone had over 8,000 species, which already had 39 endangered species and added 14 new species to the endangered list. Not only did we lose animals but “Eleven people died as a result of the accident and 17 others were injured”(BP Staff).

For Californians, a trip out-of-state comes with many surprises, one of them being gas prices. As any amateur economist knows the reason for the staggering prices is due to additional taxes added on by the state. California being the proactive state that it is has initiated multiple regulations on fuel and not one of them is forgiving to buyers. According to a recent Wall Street Journal article, gas prices in the state are well above the national average due to the harsh regulations of the government. People respond to incentives, and the residents of California make decisions by comparing costs and benefits.

Diesel fuel prices also vary wildly depending on the season, region, and even individual fuel retailer, sometimes going for less than regular gasoline and sometimes going for more than premium.

To understand the increase in gas prices, one must first identify the distribution of dollars paid per gallon at the pump. According to the U.S. Energy Information Administration (eia) in 2010, the annual average paid at the pump consisted of 68% crude oil, 7% refining, 10% distribution and marketing, and 15% taxes

The fluctuation of gas prices occurs because of a number of factors; the price of crude oil, the price of manufacturing, the price of corn is all tied to the price of oil and the price we see at the pump for gas.

Each time a person residing in the United States pulls up to a gas station to fill their tank it costs more money. This is particularly true of the past four years. Many focus the blame on the American Government but there are a multitude of factors causing gasoline prices to be so astronomically high. Middle eastern war, environmental precautions and government all seem to have a hand in the price we pay at the pump.

The supply of gasoline to various regions of the United States also plays a significant role. The country is divided into five different regions: Gulf Coast, East Coast, Midwest, Rocky Mountain, and West Coast. Some of these areas do not have enough refineries in their own region to support the consumption and therefore need it brought in. For example, the West Coast has very limited pipeline connections from the other regions. It must rely on water shipments and its small amount of refiners for its supply. If something should happen to the water shipments, i.e. a hurricane, tsunami, etc. it would greatly effect the supply of gasoline.

The prices of many things ranging from a movie to a car have greatly increased since 1965. In 1965, a gallon of milk cost was $0.95. This was three times the price of a gallon of gas, which cost $0.31. The cost of a home is what a car cost today. The cost of a movie in 1965 was $1.01. The prices of many thing have extremely increased since

Most people know how to do this simple task. However, for others’ it is more difficult or it is their first time. I am about to explain how to perform this simple task in just a few comprehensive paragraphs; how to pump and pay for gasoline at the pump. Yes, without having to go inside to pay for it. You were paying attention! Thank you!

In this text, I concern myself with the contents of two articles based on recent microeconomics issues. During the last two months, the price of gas in the U.S. has been on an upward trend. Taking into consideration recent happenings on the international scene, this trend could have been triggered by many different factors. The articles I make use of in this case discuss the rising oil and gas prices.

What’s more, the price is not only affected by demand. It may also be influenced by dealer to dealer. Different dealer will offer a different price because of delivery fee. Thus it is another particular factor that causes price difference.

Gas Prices affected by Geopolitics and Supply problems Along with the demand for oil rising, many disruptions to the supply have created bottlenecks. For example, the war in Iraq has resulted in reducing oil production there, as has also happened in Nigeria due to rebel activity. The continuing nuclear weapons wrangle with Iran, the government increasing its control over industry in Russia, and the oil companies being nationalized in Venezuela has given rise to misgivings about future supplies.In recent years, refining crude oil in the US has also become more expensive, with experts citing two main reasons for this: congressional mandates resulting in shifting towards the production of more environmentally clean gasoline blends, and the oil refineries on the Gulf Coast being devastated by Hurricanes Katrina and Rita in the year 2005. In addition, the production of crude oil in America has also become costlier since the places that have been easiest to drill have largely gone dry.This means that oil companies have to go increasingly into offshore oil producing areas such as the Gulf of Mexico, which cost much more to drill in. With oil companies having to access harder to reach locations, which makes it costlier to produce oil, and simultaneously them being forced to reduce their