Purchase Solution

Price Fluctuations of Gasoline

Not what you're looking for?

Ask Custom Question

We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors, as outlined in our book. Be sure to cite any references used.

Why do the gasoline prices fluctuate?
What is the history of gasoline pricing in the Columbus, Ohio area?
How do the fluctuations in pricing relate to documented supply and demand factors?

Purchase this Solution
Solution Summary

This solution discusses the phenomena of gasoline price fluctuations. It also looks into the history of gasoline pricing in the Columbus, Ohio area. There is also a discussion on the price fluctuations and its relation to supply and demand factors. 322 words with sources linked.

Solution Preview

Why do the gasoline prices fluctuate?
1.Fluctuation in price can be brought on by oil supply disruptions, such disruptions can stem from events from around the world. Disruption of production at refineries can raise the cost of gas.

Such a disruption occurred after Hurricane Katrina hit the Gulf of Mexico and surrounding areas, where a number of refineries are located. The further you are from the gulf area, the more likely you are to find yourself paying more at the pump.
It is a common occurrence to be driving down the ...

Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

View More Free Quizzes
Related BrainMass Solutions

  • Fluctuations in gasoline prices

    The World Price of Crude Oil Is the Most Important Factor in the Price of Gasoline.Over the Last 20 Years, changes in Crude Oil Prices Have Explained 85 Percent of the changes in the Price of Gasoline in the U.S.

  • reasons for the price increases and fluctuations

    Discuss supply and demand, major reason(s) for the price increases and fluctuations, and international factors.

  • Global competition impact on price elasticity; winners & losers

    This can be understood with an example of a product gasoline that's price had experienced many fluctuations' in past few years.

  • Fund to stabilize the price of gasoline in the local market

    The fund that you might be referring would be a "buffer" fund the purpose of which is to soften the effect of oil price fluctuations in the world market.

  • Managerial Economics

    The graph has been shown below, which represents the fluctuations in the retail gasoline prices (Short-Term Energy Outlook, 2008). (U.S.

  • Fueling Station Break Even Point

    230766 Calculate break even point for gasoline at a gas station It would be interesting to see how gas stations and convenience store have the price of gasoline calculated into their break-even point.

  • Autonomous net taxes and savings

    a. a decrease in the price of gasoline b. an increase in the price of gasoline c. a leftward shift of the supply of gasoline d. a rightward shift of the supply of cars e. a decrease in the price of bicycles ____ 2.

  • Microeconomic issues

    Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors, as outlined in our book. Be sure to cite any references used. 2. Ethical Issues in Business.

  • Differences between Macro and Microeconomics

    Every increase in the price of gasoline affects my purchasing habit. Inflation, brought about by rising prices of fuel products always result to increase in the products of almost all products. How this phenomena impacts us?

View More Related Solutions