This keeps prices all for all users of oil high at present, given the overall escalation of users in total and insulates the price of gas and oil from subtle increases and decreases upon the part of individual suppliers. (Halcomb, 2005)
However, other possible causes may be simple hysteria and gouging. Historically, even when there has been a wholesale price of gas of $1.45 a gallon, gas stations have been able to make a profit by using the media frenzy to gouge customers, sell it for as much as $2.15.
A third factor may be simple unwillingness upon the part of customers in the United States, in the developing world, and in other nations that depend on crude to limit their use of oil, regardless of gasoline prices. "The people who are honest are going to pay for their gas no matter what the price is," said one gas station owner. (Lemaster, 2005)
Data Gathering
Which policy should the United States...
must measure the price of gas in relation to OPEC production and world use. What factor affects pricing more, OPEC, the use of developing nations, American consumer demand, or world demand in relation to supply in total?
Works Cited
Halcomb, Ron. (2005) "Gas Prices to Remain High." Retrieved from Auto Blog on 23 Jul 2005 at http://www.autoblog.com/entry/1234000953044926/
Lemaster, Jeff. (6 Apr 2005) " Filling the Tank Takes More from Traveler's Wallets." The Jacksonville Patriot. Retrieved from newspaper website on 23 Jul 2005 at http://www.jacksonvillepatriot.com/Pages/04-06-05/Filling%20the%20tank%20takes%20more%20from.htm
Works Cited
Halcomb, Ron. (2005) "Gas Prices to Remain High." Retrieved from Auto Blog on 23 Jul 2005 at http://www.autoblog.com/entry/1234000953044926/
Lemaster, Jeff. (6 Apr 2005) " Filling the Tank Takes More from Traveler's Wallets." The Jacksonville Patriot. Retrieved from newspaper website on 23 Jul 2005 at http://www.jacksonvillepatriot.com/Pages/04-06-05/Filling%20the%20tank%20takes%20more%20from.htm
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