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Essay / Research Paper Abstract
This 3 page paper examines the high price of gasoline in 2006. The reason for the high prices is discussed and a prediction for the future is included. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: RT13_SA633gas.rtf
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Unformatted sample text from the term paper:
in the past had been considered astronomical, but now is the norm. In fact, in March of 2005, people were complaining about paying just under two dollars per gallon (Scherer,
2005). What caused this situation to arise? Is it the greed of the gas companies that keeps the price artificially high, or is there something more going on behind
the scenes? Is gasoline really all that scarce? Many analysts explain that it is still "not near the prices paid in past decades when adjusted for inflation" (Hagenbaugh, 2004). In
other words, gas is really not very expensive when compared with other consumables. However, Bonsor & Grabianowski (2006) refute that claim with an inflation adjusted chart demonstrating that prices
are really much higher starting in 2005, even when adjusted for inflation. They explain that the price of gas is tied to four primary factors which are taxes, the
cost of refining the oil, distribution and marketing and the wholesale price of the oil itself (Bonsor & Grabianowski, 2006). Some believe that the gas companies are reaping profit, but
that does not explain the phenomenon in its entirety. It is likely that a number of economic and political factors play a role in this situation. First, it should
be noted that the wholesale price of gas rises and that affects retail pricing (Scherer, 2005). That is obvious. What is not so obvious is what is really driving the
wholesale price. Many claim that the high price is attributable to the war in the Middle East. Some also claim that the rise in gas prices is related to hedge
funds and the moves of individual investors (Scherer, 2005). It is possible that it is a combination of things and perhaps the named items are included, but many causes have
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