This website uses cookies to ensure you have the best experience. Learn more

Gas Prices Essay

755 words - 3 pages

Every motorist has been affected by the high cost and demand of gasoline purchases. On average, the U.S. pump price of gasoline has increased by more than 20 cents a gallon since the beginning of the year. As consumers across the country drive up to gasoline pumps to fill their tanks, they are all asking the same question -- why are prices rising so quickly to such high- levels? Consumers spend more on gasoline and have less money to spend on other purchases. According to (Klara, Robert, 11/2004), Americans drive more than 2.6 trillion miles a year, burning up 115 billion gallons of gas in the process. When prices go up, the expense of gas is felt acutely in the family purse-which in turn affects discretionary spending.Prices at the pump jumped 350 a gallon between the beginning of the year and the summer vacation season. The NRA's latest research indicates that seven out of 10 operators say higher gas prices have had a negative impact on their businesses. Higher fuel prices have driven up distribution costs as well-costs that are being passed directly on to the operator. According to Hudson Riehle, the National Restaurant Association's Sr. VP of Research and Information Services, anything that impacts cash-on hand, especially for lower-income households, has some effect on restaurant spending.A survey that evaluates the rise in energy prices has an impact on public views of the tradeoff between boosting the energy supply and protecting the environment is called the Economic Pessimism Grows. The public blames energy producers for rising gas prices, but many also fault the president. More than a third (36%) blames major oil companies, while 27% point to President Bush and his administration. About one-in-five (18%) blame OPEC, Middle Eastern countries, and other foreign oil producers. Just 36% express confidence that the president is taking the right approach to solving the nation's energy problems. Bush's overall job approval rating stands at 40%, unchanged since last week (Sept. 6-7).America relies heavily on the gasoline industry to support the country’s transportation needs. Our personal vehicles alone guzzle 115 billion gallons of gasoline and diesel fuel each year, according to the Motor & Equipment Manufacturers Association (MEMA). Add commercial vehicles, recreational vehicles and other machines...

Find Another Essay On Gas Prices

Rising Gas Prices Essay

597 words - 2 pages With gas prices pushing $4.50 for a gallon of regular gas in some places, many people are looking for the cheapest gas they can find. If you see a sign that says $3.90 and the station next door says $4.00 you'll probably think, cool, cheap gas. Then you'll go swipe your credit card and think you just got a good deal; at least until your receipt comes. The price of a single gallon can be up to 50 cents higher. But if you knew this happened, you

Hypothesis Testing (Gas Prices) Essay

1103 words - 4 pages In the last study, Team C compared the national gas price average as reported by AAA.com to various gas prices in different cities in the Eastern US. Taking the study a step further, Team C elected to test the gas prices in two states, Florida and Michigan, to further research such prices. After further research, results reported that the gas averages in Florida and Michigan were calculated at $2.60 and $2.61, respectively. Team C decided to

Oil and Gas Prices

1981 words - 8 pages In America oil and gas prices have sky rocketed to record breaking figures over the past few years. Throughout the past several decades, the world's dependency on oil and gas has increased rapidly. These are among the most important resources. The need for oil and gas are growing at a rapid rate. The economy is influenced by many factors that determine its surplus or deficit. As the demand for oil and gas grows, the American family spends an

Why Gas Prices Are Rising

1210 words - 5 pages Gas prices rising OR EVEN ABOUT SQUEEZING a few more miles out of each precious tankful. But among the special-edition Ferraris, bizarre Cadillac studies and a whole new crop of gas-guzzling SUVs, not all that many people were talking about cheaper and cleaner ways of getting around. The section of the show dedicated to ‘New Energies’ was a tiny corner on the second floor of Hall 2, behind the stands of the insurance companies. There were

The Effects of High Gas Prices

655 words - 3 pages Gas is an important productive resource in the world. Driving cars, heating buildings, producing electricity, people all need gas. Therefore, gas is directly related to people's normal life and the global economy. Recently, due to the fights between Israel and the Hezbollah guerrilla, the Middle East political and economic situation has been deteriorating, which has led to the continuous hikes of gas prices. Since gas plays an important role in

Rising Gas Prices in the United States

1125 words - 5 pages Once upon a time Americans hopped into their cars on warm spring days and took long drives to admire the beauty of nature. Teenagers took joy rides around town to meet friends and rode from one “hot spot” to another. Those were the days when gas prices were affordable to the average American. Over the past few years, gas prices in the United States have been on the rise. What is causing the increase in gas prices? To understand the

Fluctuating Gas Prices Will Never End

973 words - 4 pages These days, gas prices seem to be a weekly topic on local and national news channels. Every time there is some type of fluctuation, it causes an uproar, usually because it is a difference of ten cents or greater. The reasons as to why is definitely a mystery with new myths popping up each day and almost all the supposed reasons being incorrect. The real discussion should be not as to what causes the price change but how it affects our

Government Intervention in Gas Prices: Good or Bad? (REPORT)

1712 words - 7 pages swelled, prices dropped, exploration spread, and the continental pipeline infrastructure was completed. This meant that gas found anywhere in North America could be transported with ease and sold anywhere on the continent, allowing everybody in every sector of the industry to benefit from huge supplies, advancing technology and steadily growing investment (http://collections.ic.gc.ca/abpolitics/events/issues_nep.html). After this entire ordeal

The Unstable Change of Gas Prices Across the World

2072 words - 8 pages The Unstable Change of Gas Prices Across the World The price of gasoline is a major interest to almost everyone in the country and almost everywhere in the world. It seems that every month or even more frequently, gas prices are either rising or dropping but never staying stable. Gasoline prices are affected by many factors, including the price of crude oil in the world market, supply and demand for gasoline, local market

This essay is about why gas prices change. It includes background information on petroleum as well as the way the gas economy works

1324 words - 5 pages Why Do Gas Prices Change?When thinking of modern technology, it is hard to think of anything that does not require some type of oil to power it. As a society, we are completely dependent on oil. Oil was formed millions of years from the remains of animals and plants in a marine environment. Layers of mud covered the remains while heat and pressure helped turn the remains into crude oil, or petroleum. The word "petroleum" means "rock oil" or "oil

Gas prices and the example of supply and demand

863 words - 3 pages travel market to calculate the variety of pricing.As with most other airlines, prices vary depending on the time you travel. Business flights that begin at 7a.m. are more expensive, but offer a more flexible schedule. Other flight schedules such as afternoons during weekdays and Saturdays offer a cheaper fare, but may come with stricter flight schedules and more restrictions. There are two theories that follow these examples the price elasticity of

Similar Essays

Gas Prices Essay

666 words - 3 pages is that wholesalers are unaware if they will receive enough oil; therefore, they are willing to pay higher prices. With the problems between America and some oil producing countries such as: Iraq, Venezuela and now Saudi Arabia, the uncertainty of acquiring oil rises on the global marketplace. The potential for supply drops increasing the demand and the gasoline price increases. This is one of the main reasons why gas prices are so high. OPEC

Gas Prices Essay

893 words - 4 pages other product's price is posted on large signs along the nation's roads? Price also generates a lot of concern, particularly when it is going up. The gasoline market is highly competitive. Gasoline prices reflect market fluctuations in supply and demand. Crude oil costs, taxes and manufacturing and distribution costs all factor in to how much one pays for gasoline, as well as the challenges the oil and natural gas industry must overcome to ensure that fuel is accessible when needed.

Todays Rising Gas Prices Essay

931 words - 4 pages Today's Rising Gas Prices At some point in everyone’s lives, we are affected by the rising gas prices in today’s economy. Natural gas is not a renewable resource, since there is a fixed amount of it trapped in the Earth. However, many people carry the misconception that there is a very limited amount of natural gas, and that we may use all of it up. This isn’t true. The gas shortages of the 1970's were prompted by the government’s lack of

High Natural Gas Prices Essay

559 words - 2 pages High Natural Gas Prices"Natural gas seasonal prices staying high" is the title of an article written by Josef Hebert from the Associated Press on June 8, 2004. The article discusses the amount of natural gas stored in the United States as well as the growing demand of natural gas and how the pricing will stay high throughout the summer months of 2004.Natural gas has thousands of uses approximately 23 percent of the energy consumption of the