Nobody downloaded yet

Explain what you believe to be the 3 biggesrt reasons why the price of a gallon of gasoline has fallen so much in the last few momths - Essay Example

Comments (0) Cite this document
Summary
By January 23, the price per gallon was $49. This almost half price from June the previous year which was at $115 per gallon (Plumer 1). The drastic price changes has been a global experience the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.8% of users find it useful
Explain what you believe to be the 3 biggesrt reasons why the price of a gallon of gasoline has fallen so much in the last few momths
Read TextPreview

Extract of sample "Explain what you believe to be the 3 biggesrt reasons why the price of a gallon of gasoline has fallen so much in the last few momths"

Download file to see previous pages or the decreased price is the decreasing oil demand based on that numerous countries have been developing oil reservoirs that can sustain their internal industry. In the United States, the production of oil has increased significantly since 2008. The increase has been influenced by the more advanced drilling in the Gulf of Mexico. Oil production from the United States has increased the supply to the international market. In addition, different from oil from the Middle East, the price for American Oil is relatively cheaper (Plumer 1). This is based on that the United States has decreased its purchase level of expensive international oil. The impact of the strategy has been consumer friendly.
In the global market, more oil from the United States and other suppliers the supply is relatively high. This decreases the monopoly of production from the Middle East (Plumer 1). Moreover, with high supply the demand in in major oil producers decreases. To sustain their production, oil producers decrease the oil prices with the objective to retain relevance in the global market. This changes has significantly influenced the decreasing gasoline prices.
The consumer ability to purchase cheap oil is directly influenced by the general drop in the price of crude oil. The fall being attributed to high supply and low demand of the product. On a daily basis, the United States millions of barrels of oil to supply to the large global oil economy. The slightest decrease on the price of crude oil has a significant effect on the retail price quoted for the gas. From 2013, the price of crude oil has decreased significantly. The projection of the decrease depict even more relatively low prices by the end of 2015.
The fall of global prices was also influenced by the decision by OPEC not to manipulate oil prices and oil production (Plumer 1). Previously, the oil body would determine the prices of oil from its producers. The body has in its control the largest producers of global oil. With ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Explain what you believe to be the 3 biggesrt reasons why the price of Essay”, n.d.)
Retrieved de https://studentshare.org/macro-microeconomics/1677472-explain-what-you-believe-to-be-the-3-biggesrt-reasons-why-the-price-of-a-gallon-of-gasoline-has-fallen-so-much-in-the-last-few-momths
(Explain What You Believe to Be the 3 Biggesrt Reasons Why the Price of Essay)
https://studentshare.org/macro-microeconomics/1677472-explain-what-you-believe-to-be-the-3-biggesrt-reasons-why-the-price-of-a-gallon-of-gasoline-has-fallen-so-much-in-the-last-few-momths.
“Explain What You Believe to Be the 3 Biggesrt Reasons Why the Price of Essay”, n.d. https://studentshare.org/macro-microeconomics/1677472-explain-what-you-believe-to-be-the-3-biggesrt-reasons-why-the-price-of-a-gallon-of-gasoline-has-fallen-so-much-in-the-last-few-momths.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Explain what you believe to be the 3 biggesrt reasons why the price of a gallon of gasoline has fallen so much in the last few momths

Why so few men choose nursing as their profesion

...as a career like any other that could provide the much needed solution. Various studies have shown the satisfaction of male nurses with their profession (Kouta & Kaite, 2011; Moore & Dienemann, 2013; Wolfenden, 2011), some further citing the subjects encouraging other men to join the profession (Tworney & Meadus, 2008). Thus, nursing is a profession where men could fit in just as any other profession. On the other hand, one of the reasons why few men exist in the nursing profession has been the stereotypes in the nursing profession. Wilson (2009) observes that the public perceives nursing as a sex-role occupation that remains exclusive to females, a...
4 Pages(1000 words)Research Paper

Nighthawks: So Much Space and Emptiness

...Nighthawks: So Much Space and Emptiness The mood exuded by Hopper's Nighthawks is gloom. Three people are presented, seated at a diner, late at night. The most striking aspect is the amount of empty space. There is so much empty space, well-lit, and unfilled. The sidewalk outside the diner's well-lit window is empty and almost unnaturally clean. There are no people to be seen, there is no garbage on the street, and even the windows of a shop across the street appear without any decoration. The lights from inside of the diner illuminate the barrenness of the outside, allowing the observer to see quite clearly the emptiness and the aloneness of the patrons sitting...
2 Pages(500 words)Essay

Gasoline Economics

...can fluctuate without changing equilibrium price and quantity. A price above the prevailing price the curve is relatively elastic and prices below the point the curve is relatively inelastic. Figure 2: The oligopoly market structure for gasoline Source: Resources and Energy, 13(3), 241-262. In oligopoly market it has a high degree of market concentration and it indicates that larger portion of the oligopoly market is owned by the leading gasoline firms of the particular country (Nevo, 1998). Thus big gasoline business firms can be regarded as a...
7 Pages(1750 words)Essay

Gasoline Prices

...Recently, the attention of media has been devoted to increased gasoline prices, larger profits of oil companies and merges of the oil market leaders. Increased gasoline prices have a huge impact on the economy because of the heavy reliance in motor vehicles in developed countries. For example, each additional ten cents per gallon adds as much as $14 billion to American gasoline expenses. In order to understand the importance of gasoline for the national economy, it is essential to look at the market and what factors are affecting the price of gasoline. ...
6 Pages(1500 words)Essay

Gasoline crisis

.... The graph also goes to show the fluctuating price of Ethanol, the price almost touch 6$ on the other hand there is not much fluctuation in the case of Ethanol. “Either way, gasoline is far more efficient. Groppe estimates that it produces 94 percent more energy than it takes to make it. Ethanols pump prices are misleading, too, he argues, because the government subsidizes the cost by 51 cents a gallon. Ethanol is quite a good substitute and the use of the same will also bring this crisis to an end. Another breakthrough at the half of the century was the building of the first offshore oil platform in the Gulf Coast of Louisiana. ...
8 Pages(2000 words)Essay

Gasoline prices

...Prof’s The Myth of Increasing Gasoline Supply Gas prices have been one of the hottest topics this political season, with nearly everyone blaming each other for the rises in commodity pricing. Everyone thinks they have the magic bullet, the solution that will cause gasoline prices to drop. One of the most dangerous of these is the idea that increased production will decrease the cost of gasoline, and that drilling should be increased in places such as Alaska. The idea that this will have a long-term impact on gasoline prices is simply ludicrous, and the only way to actually guarantee a...
1 Pages(250 words)Essay

Explain the reasons why left realism emerged

...Why Left Realism Emerged Left realism refers to the theory that seeks to define crime and its connections to social crime, and social control (Lea 141-146). The working class is prone to the effects of this theory and its proposed remedies worsen the crime problems. The theory of Left Realism emerged in the mid-1980s in UK as a policy-oriented intervention that focused on the reality of crime for the working class victim and the need to elaborate a socialist alternative to conservative emphases on law and order (Lea 141). Indeed, it is evident from previous studies that Left realism emerged as a reaction to ‘law and order’ politics and to the perceived vacuum in radical left thinking on crime and crime control (Carrabine...
2 Pages(500 words)Essay

Explain why you believe you should be accepted into the MAB graduate program in UGA

...APPLICATION FOR VACANCY IN MAB PROGRAM, UGA I wish to express my interest in applying for MAB (Masters inAgri-Business) program in your prestigious university, UGA. I have intimate passion in furthering my education in MAB program, at UGA. I believe UGA is the place to be, and the only world class institution, that can enable me to achieve my career goals in MAB. I choose to apply for the MAB program at your university because of the good technical support and facilities available that can enable be to develop both knowledge and field wise. The area of agriculture/crop production is so critical because of the role it plays in sustaining human life and, therefore, finding a long lasting...
2 Pages(500 words)Personal Statement

Make me believe you

...Euthanasia College: Medicine is becoming more and more powerful every year. Some of diseases and injuries, however, cannot be treated even today. As a result, a great number of people have to put up with it, endure severe pain, live owing to a feeding tube and wait till their suffering is over. These people have to anguish because there is no other way to deal with it. I believe that such people have the right to decide when and how they want to stop suffering. In other words, I believe that euthanasia should be allowed. First of all, it is the matter of human rights. Every person has a right to life. So why do not they have a right to decide what to do...
1 Pages(250 words)Essay

Last 3 question assignment

...Last 3 Questions on Management Question What is Your Wildly Important Goal? As a manager, my wildly important goal is to keep my clients happy and satisfied. Admittedly, client satisfaction is paramount in influencing the present and future success of a business. Without satisfaction, clients’ drop-out will undermine the revenue aspects of a business. In this case, I will strive to achieve client satisfaction by delivering a project’s outcomes in a timely manner. Besides finishing on time, I will complement my wildly important goal with completion of a project under the predetermined budget. Therefore, cost efficiency and timeliness are the essential components of my wildly important goal. Question 2:...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Explain what you believe to be the 3 biggesrt reasons why the price of a gallon of gasoline has fallen so much in the last few momths for FREE!

Contact Us