Gas Prices in the United States - 1257 Words

Gas Prices in the United States Introduction and Claim No one enjoys paying high prices for gasoline in the United States. In fact when gasoline prices rise to levels above $3 and $4 dollars and even up to $5 a gallon it hurts the economy because it hurts consumers. This paper focuses on gasoline prices and how gasoline prices affect the way Americans drive their cars and trucks. Thesis: Notwithstanding the cynical view that gasoline distributors are manipulating prices to gouge consumers, the literature reflects that prices rise and fall in most cases primarily based on market-driven forces, and on problems with refineries. Moreover, when the government sets higher mileage standards for vehicles, it means cars go a lot farther on a gallon notwithstanding the price of that gallon of gasoline. The Literature on Gasoline Prices Background As a quick review, information provided by the Research and Innovative Technology Administration, a division of the Bureau of Transportation Statistics (which is a division of the U.S. Department of Transportation) is helpful in terms of following the prices of the cost of a gallon of gasoline from January 2002 through January 2012. In January, 2002, the average cost of a gallon of gasoline was just over a dollar; by January 2004 the cost of a gallon of gasoline had risen to $1.75; and by January 2006 the price rose to around $3.00 a gallon. Then in January 2008 the cost of gas was up to $4.00; it dipped to around $2.00 briefly in 2009Show MoreRelatedEssay on Rising Gas Prices in the United States1015 Words   |  5 Pagesthe beauty of nature. Teenagers took joy rides around town to meet friends and rode from one â€Å"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 ha ve been on the rise. What is causing the increase in gas prices? 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)Read MoreIntroduction The United States is the largest consumer of crude oil in the world. Gas prices1800 Words   |  8 PagesIntroduction The United States is the largest consumer of crude oil in the world. Gas prices rose when hurricane Katrina hit the Gulf Coast area in 2005 due to the damage of the refineries in the area that supply most of the United States with their gasoline supply. But since 2005 gas prices have pretty much remained in the same price range, and it is nine years later. There is evidence that the oil companies are making record breaking profits, accusations of price gouging, and an angry societyRead MoreHow Do Gas Prices Affect Road Accidents And Fatalities From The United States?855 Words   |  4 Pagesquestion I plan to provide insight on is: â€Å"how do gas prices affect road accidents and fatalities in the United States?† Low gas prices tend to increase the distance travelled by motor vehicles and therefore, increase the likelihood of road accidents. Higher gas prices will ease congestion on the road and will reduce the demand in driving a motorized vehicle. This will therefore reduce the probability of an accident from occurring. If gas prices are low, the number of road accidents have shown toRead MoreInformative Speech931 Words   |  4 Pages2/20/2013 Specific Purpose: To inform my audience about why gas prices are so high, and continue to rise. 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Cost-push inflation is when prices surge resulting from high inputRead MoreAmerica s Need For Black Gold1221 Words   |  5 Pagesfuture. Yet, in this present day, the United States faces a similar, although not as extreme, situation. Measures must be made to make the United States energy independent. The United States must increase its domestic pro duction of oil and natural gas to become less dependent on foreign oil, give American workers good paying jobs, and boost the global and national economy. Body Paragraph 1 United States will be less dependent on foreign nation’s oil and natural gas As of 2008, there is an estimated