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Essay / Research Paper Abstract
A 7 page paper discussing the rise and fall of gasoline prices in 2005 and 2006. Gas prices experienced an intense price spike such as that which followed Hurricanes Katrina and Rita in 2005. Even more curiously, world oil prices spiraled upward at about the same time, eventually reaching more than $78 a barrel in July 2006. That price for crude translated to prices of more than $3 a gallon at the pump, but in recent weeks the price of crude has been falling and so have the retail prices at the pump. The purpose here is to investigate why that might be. The paper discusses supply and demand, as well as price elasticity. Bibliography lists 7 sources.
Page Count:
7 pages (~225 words per page)
File: CC6_KSeconGasPric.rtf
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Unformatted sample text from the term paper:
view is that gas prices increase much more quickly than they decline, and that they never quite return to levels we came to view as "normal" after an intense price
spike such as that which followed Hurricanes Katrina and Rita in 2005. Even more curiously, world oil prices spiraled upward at about the same time, eventually reaching more than
$78 a barrel in July. That price for crude translated to prices of more than $3 a gallon at the pump, but in recent weeks the price of crude
has been falling and so have the retail prices at the pump. The purpose here is to investigate why that might be. Price Fluctuations
Most of those of us who drive cars know that gas prices are going to increase in late April or early May, and that they will decline again
in the fall. Oil companies insist that they do not increase prices in anticipation of the "summer driving season" as families and vacationers take to the roads, but gas
prices do increase well before the end of any school year in any region of the country, and long before any family could be beginning a summer vacation.
Though oil companies will not admit to any extra profit generation, they do concede that many locales require additional treatment of the gas used in
the region during the summer months and that the additional attention to refining increases the cost of gasoline refined to hot-weather air quality standards.
The real effects of the pressures likely lie somewhere between the oil companies versions and the views of those who hold to the theory of the "evil corporation" when
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