Gas Prices
Fluctuating Gas Prices
Kyle Bonzelaar
Davenport University
Gas prices have been on a rapid rise the last few years and not many people are happy with it. It limits those on a budget for how much they can do and how much they are willing to drive. Lately, gas prices have been fluctuating in price and going up but are more recently going back down, which gives people a little more flexibility at times in their schedule. It lets people do things such as travel and more, that they were not able to do last summer when gas prices were right around as well as over $4.00 a gallon, which made people cut back on those unimportant things. Supply and demand plays two major factors that have an impact on what we might see gas prices at. Ash says, “Gas prices are expected to continue to drop leading to Election Day and continue to fall through the end of the year (Richardson, 2012).” According to Clifford Krauss, oil experts have been talking about how since Israel and Gaza are not oil-producing areas, that we should not see oil prices spike up and cause us to pay more for a gallon of gas (Krauss, 2012). As gas prices have been steadily increasing, it has had a negative effect on the consumers that use it daily.
According to Jim Motavalli, “the main five reasons as to why gas prices have been on the steady rise can be related to demand, global politics, speculation, seasonal, and fuel-efficient cars (Motavalli, 2012).” The seasonal reason really gets to everyone who drives, because gas prices increase in the summer that causes less travel. People do not like entering a new year with record high gas prices since it scares them. Demand and global politics are the two reasons we as people should be the most worried about, because if demand were to decrease then we would see gas prices take a giant leap that would cause people to travel less yet again. Over the past two years, more and more fuel-efficient cars have been produced and that leads to people buying
Kyle Bonzelaar
Davenport University
Gas prices have been on a rapid rise the last few years and not many people are happy with it. It limits those on a budget for how much they can do and how much they are willing to drive. Lately, gas prices have been fluctuating in price and going up but are more recently going back down, which gives people a little more flexibility at times in their schedule. It lets people do things such as travel and more, that they were not able to do last summer when gas prices were right around as well as over $4.00 a gallon, which made people cut back on those unimportant things. Supply and demand plays two major factors that have an impact on what we might see gas prices at. Ash says, “Gas prices are expected to continue to drop leading to Election Day and continue to fall through the end of the year (Richardson, 2012).” According to Clifford Krauss, oil experts have been talking about how since Israel and Gaza are not oil-producing areas, that we should not see oil prices spike up and cause us to pay more for a gallon of gas (Krauss, 2012). As gas prices have been steadily increasing, it has had a negative effect on the consumers that use it daily.
According to Jim Motavalli, “the main five reasons as to why gas prices have been on the steady rise can be related to demand, global politics, speculation, seasonal, and fuel-efficient cars (Motavalli, 2012).” The seasonal reason really gets to everyone who drives, because gas prices increase in the summer that causes less travel. People do not like entering a new year with record high gas prices since it scares them. Demand and global politics are the two reasons we as people should be the most worried about, because if demand were to decrease then we would see gas prices take a giant leap that would cause people to travel less yet again. Over the past two years, more and more fuel-efficient cars have been produced and that leads to people buying
References: The Associated Press. (2012, October 9). Chevron Cuts Its Forecast for 3rd-Quarter Earnings. The New York Times. Cobb, K. (2012, November 23). Did oil decide the last three American elections? The Christian Science Monitor. Hicks, J. (2012, March 3). The claim that won’t die: Did Obama want higher gas prices? The Washington Post. Krauss, C. (2012, November 21). Oil Prices Stay Steady Despite Mideast Conflict. The New York Times. Motavalli, J. (2012, March 3). Five Reasons Gas Prices Rise. Forbes. Oil prices fall on Greek bailout doubt. (2012, November 28). Retrieved November 28, 2012, from Sky News website: http://www.skynews.com.au/businessnews/article.aspx?id=820981 An article based on who is going to help with the new oil bailout. Rapier, R. (2012, September 10). Four reasons gas prices are about to fall fast. The Christian Science Monitor. Reuters. (2012, September 28). Gas Prices Continue To Rise, Lifting Consumer Spending In August. The Huffington Post.