Prices
- Submitted by: msfrogger
- Views: 587
- Category: English
- Date Submitted: 06/05/2011 12:58 PM
- Pages: 5
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Watching the gas prices fall was nice, while it lasted. But the crude oil market has become more volatile in the last weeks causing gas prices to stabilize. The average of regular gas is at $3.79. The focus this week at the OPEC meeting will be in increase the output would justify the given situation. But the decision will depend on Saudi Arabis because they currently hold three quarters of OPEC’s capacity.
Although price levels have declined slightly, these price levels have not been seen since 2008. When crude oil prices go above $100 per barrel, prices rise; if they fall below that we see a drop in gasoline prices across the board. The economic growth ultimately will lead to a reduction in speeding leading to lower fuel use and less of a demand.
Although gas prices in our country are low compared to others, it is still a problem and is affecting our economy in several ways. Our economy is struggling from high prices at the pump, grocery stores and the employment field. We need better work opportunities to help with better pricing at the pumps and other areas. Our people are in a “poor” state but prices on everything keep going up and jobs keep decreasing. Something is wrong within the government if the oil companies are still showing a 16 billion dollar profit in one quarter yet the average working person is struggling to survive one paycheck to the next.
Ron Scherer, April 18, 2011; The Christian Science Monitor; http://www.csmonitor.com/Business/2011/0418/Gas-prices-nearing-the-point-where-Americans-cut-back
With gas prices being an average $3.83 a gallon consumers are close to the point they will start to cut back to pay fuel expenses. This will adversely affect all businesses from restaurants to entertainment. People may have money to spend but with gasoline costs at $4 a gallon, they are cutting back in response to the price. People are parking extra vehicles, carpooling, making fewer trips and may not be taking that family vacation.
Economist say...
Although price levels have declined slightly, these price levels have not been seen since 2008. When crude oil prices go above $100 per barrel, prices rise; if they fall below that we see a drop in gasoline prices across the board. The economic growth ultimately will lead to a reduction in speeding leading to lower fuel use and less of a demand.
Although gas prices in our country are low compared to others, it is still a problem and is affecting our economy in several ways. Our economy is struggling from high prices at the pump, grocery stores and the employment field. We need better work opportunities to help with better pricing at the pumps and other areas. Our people are in a “poor” state but prices on everything keep going up and jobs keep decreasing. Something is wrong within the government if the oil companies are still showing a 16 billion dollar profit in one quarter yet the average working person is struggling to survive one paycheck to the next.
Ron Scherer, April 18, 2011; The Christian Science Monitor; http://www.csmonitor.com/Business/2011/0418/Gas-prices-nearing-the-point-where-Americans-cut-back
With gas prices being an average $3.83 a gallon consumers are close to the point they will start to cut back to pay fuel expenses. This will adversely affect all businesses from restaurants to entertainment. People may have money to spend but with gasoline costs at $4 a gallon, they are cutting back in response to the price. People are parking extra vehicles, carpooling, making fewer trips and may not be taking that family vacation.
Economist say...