Article Analysis

Article Analysis

Article Analysis of the United States Gasoline Prices
Bobby St George
ECO/365
June 3, 2013
Mac Naughton

Article Analysis of United States Gasoline Prices
United States gasoline prices soars, hedge funds oil bets near record. A service station in Midtown, New York last week when numerous people were prepared to blame Wall Street traders when they paid more than $4 per gallon for gasoline. John Keegan who works at Terminate Control Pest Company was convinced if Wall Street would stop battling over the cost of oil the prices would be around $1 a gallon.
The utility derived from the gasoline prices Americans family could pay more than $3,000 a year on gasoline according to the latest government estimates. February 7, 2013 Wall Street traders held contracts equal to almost 420 million barrel of crude oil. Lowering oil production in Saudi Arabia and tougher Chinese requirement are two reasons that have heightened the prices of world most precious commodity. Michael Green AAA spokesman said “United States gasoline prices have closely followed, surging 28 cents to $3.60 cents per gallon on an average since December 11, 2012 and five month high above $118, having risen nearly $108 a barrel two months ago.” (Podkul & Sheppard, 2013)
Crude oil is used over the world and keeping up with the supply and demand for oil has proven to be costly in the American pockets at the gas pumps. Although the production in America is expected to grow at it fastest pace according to the Energy Information Administration fair prices are taking it cues from everywhere, analysts say. A disruption around the world can cause the crude oil to soar. Different oil companies can produce oil and sell it against the United States and European benchmark, unlike selling stock or bonds, which are limited a sold to specific business. In 2011 and 2012, oil prices rose in the...

Similar Essays