Gas and Oil Prices

Gas and Oil Prices

  • Submitted By: mizrivas1
  • Date Submitted: 11/30/2008 5:57 PM
  • Category: Business
  • Words: 845
  • Page: 4
  • Views: 785

Gas and oil prices

Let’s all think back and remember the price that we paid for a gallon of unleaded gas in 2006. The average price of a gallon of unleaded gas in 2006 was $2.31 (bureau of labor statistics). Today we are paying at least $3.59 for a gallon of unleaded gasoline. Gas prices have gone up an average of .82 cents a gallon more in the first seven months of 2008

Even though we are starting to see the price that we are paying for a gallon of unleaded gasoline come down. Many of us are still asking our selves the same question, why our gas prices so high are. Many of us have no idea why the price of gas fluctuates so much; there are many factors that affect the prices that we are paying at the pumps for a gallon of gasoline.

Gas prices are always fluctuating, just when we think that the gas prices are going to come down a little, they start going right backup again. Many stations are starting to set their prices not on the cost for today, but on how much they think that it is going to cost to refill their tanks later.

Rising gasoline prices are causing more people to do less traveling, and use their heating and air conditioning less. Many people are buying hybrid cars; others are taking busses, riding bikes, and even walking to save money at the gas pumps. There are many ways that we can all save money when it comes to gas that we should all know. That would mean that we would not have to stop our travels completely. For example:
• We should use our cruise control when on the high way.
• Make sure tiers are always properly inflated.
• Use the air conditioning a little less

With these simple steps we will see a cut in our monthly gas budget.

The national price for a gallon of unleaded gasoline is the cheapest we have seen since February but is still up nearly .40 cents since last year. The demand for gasoline is down by nearly 5.3% since last year and the cost for a barrel of oil has fallen from over $100 dollars...

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