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Price Fluctuations of Gasoline

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?

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 ...

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.

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