Reasons For High Gas Prices
In recent months we have seen a rise in gasoline prices at the pumps and we all are wondering why. Part of the reason is the price of crude oil on the stock market; this can cause prices to jump up or down based on market price. The other reason that prices go up is the classic example of supply and demand. When the demand for something goes up, theoretically the supply will go up and keep prices low. When the demand for something goes up and the supply cannot increase with the demand, the price goes up. This is of course how a free market operates and the supply and demand of products can lead to wild price changes on the stock market, much like the oil prices we are seeing on the market right now.
In this research paper I will look closely at the supply and demand for gasoline. I will look at the output of fuel from all of our refineries in the United States (U.S.); I will look at the supply of crude oil, as well as the demand for fuel in the U.S. I will also touch on a few other reasons for high gas
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