gas prices - the price could get as high as $3.75 a gallon....

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Marian Khan Gas Prices Rise to New National Record On Tuesday March 11 th gas prices per gallon rose to an all-time high for the nation, as reported by AAA and the Oil Price Information Service. The record was set by a national average of $3.2272 a gallon. The rise in oil price is coming with falling value of homes and rising price in food. Food prices are on the rise because of the rising cost of fuel. Analysts aren’t sure where gas prices will go next. Many think the prices will lower while others say it will increase even more. When the weather starts to warm up
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Unformatted text preview: the price could get as high as $3.75 a gallon. Because gas prices are rising so high quickly, the demand for fuel will rise slower in the following spring and summer than it has previously. National demand for gas is already down by one percent over the last 6 weeks and it is expected to fall even more as prices rise further. Most analysts believe that rise in gas prices is mostly because of the weakening power of the US dollar, not the supply and demand. Although in most places around the world, the prices of oil have also increased....
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This note was uploaded on 05/11/2008 for the course ECON 102A taught by Professor Sorensen during the Spring '08 term at UC Riverside.

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