assortment of sectors including agriculture‚ healthcare‚ workforce‚ and transportation. The transportation sector involves the taxation of gasoline. Gasoline balances on a positive and negative line. On one hand‚ it provides transportation for the majority of citizens and companies in North America. However‚ Menkes and Fawcett explain‚ “octane enhancing constituents of gasoline pose a number of health hazards including metallic (lead‚ manganese)‚ aromatic (e.g.‚ benzene)‚ and oxygenated additives in both industrialized
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DEMAND FOR GASOLINE According to the law of demand‚ when the price of a good and the quantity demanded have an inverse relationship. When the price of a good increases‚ the quantity demanded decreases. There are various factors affecting the demand for gasoline. These include: 1. The availability and prices of substitutes and complements: A good is referred to as a substitute for another good‚ when it can be used as a replacement for the good. When the price of one good goes up‚ the demand for
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Rising Gasoline Prices Over the past four years‚ Americans have been battling with high gas prices. The price of gas affects everyone’s lives. High gasoline prices hurt many people’s budgets. The prices at the gas pumps are not our only concerns. If gas prices go up then the cost of consumer products will go up. Many people need gas to drive to work. Gas prices continue to increase‚ making people in the United States feel the affects. Gas should be made affordable so it does not negatively interrupt
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March 2008. AMERICANS START TO CURB THEIR THIRST FOR GASOLINE. SLIDE 2 In recent years‚ the world ’s appetite for gasoline and diesel fuel grew so quickly that suppliers of these fuels had a difficult time keeping up with demand. We all know the situation with gasoline prices for the resent several years. The prices for gasoline had been changed rapidly. Mostly increasing‚ while the demand for it did not. For example‚ gasoline prices by Feb. 2008 rose to an average of $3.13 a gallon‚ that
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The Impact of High Gasoline Prices As long as natural resources become diminish ‚tense relationship between the middle east and the United States and other potential reasons‚ the price of gasoline rises up. Actually our daily product and economy are immediately related to national oil price‚ so any fluctuation in prices will influence our society directly. Nowadays‚ the government decided to raise the price of domestic oil. This policy has caused many complaints from Taiwanese citizen these recent
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Gas Prices Work Image Gallery: Hybrid Cars Photo by Justin Sullivan/Getty Images High gas prices can make you stop and think about your commute. See hybrid car pictures to see models that save you money.In May 2008‚ average gas prices in the United States approached‚ and in some places passed‚ $4.00 a gallon‚ shattering records. But this was nothing new to American consumers. May was a month of records that broke one after another‚ and that came on the heels of months of rising prices. And
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Crude Oil and Gasoline Prices June 2009 Axia College/University of Phoenix Crude Oil And Gasoline Prices Since the early Seventies‚ energy consumers have been on a roller-coaster ride of wild and woolly price swings‚ producing a kind of economic whiplash. Petroleum and gasoline prices are especially prone to price volatility. Sometimes the cause of a price increase is obvious and dramatic‚ like an oil embargo or hurricane. Other times less so‚ as when a refinery goes offline for periodic maintenance
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study: The effect of price ceiling and black market in gasoline market. Gasoline market is in equilibrium at a price of $3 per gallon and a quantity of 45 million gallon per month in the United States. Then a war in the Middle East disrupts imports of oil into the United States‚ shifting the supply curve for gasoline from S1 to S2. The price of gasoline begins to rise and consumer protest. The federal government responds by setting a price ceiling of $3 per gallon. A) The effect of imposing
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Gasoline Prices - The Supply‚ Demand and Competition Gasoline Prices - The Supply‚ Demand and Competition Each time I fill up my car at the gas pump I often wonder why gas prices fluctuate the way they do. What factors really contribute to this growing consumer issue? The price of crude oil is by far the main determinant in gasoline prices. Other contributing factors include the speed in which retail gas prices adjust to changes in crude oil and wholesale gas prices‚ refinery profit
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by politicians of greedy refiners and gasoline dealers‚ and proposals for federal legislation prohibiting "unconscionably excessive" gasoline price increases. Many states have an anti-gouging law set in place during disasters. But yet just a year before all of this occurred the price of gas was around nearly a dollar eighty. Now gas is almost a dollar and fifty cents more. That is why gasoline price gougers should be punished. It is already the law and it causes the economy to become more unstable
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