GladysMoore.Week2GM545RevisedReport

GladysMoore.Week2GM545RevisedReport - 1 Gladys Moore...

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1 Gladys Moore Business Economics GM545 Fall Session gladysprather@yahoo.com
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2 In today’s society there are many factors that can have an everlasting affect on the fluctuating prices of gasoline. We know for the past several years our gasoline prices have been affected because of the price of crude oil disruptions that may be cause by world events or problems in the refinery. When crude oil prices are at a low, this could cause gasoline prices to gradually increase before and during the summer, this occurs because people tend to drive more during summer months when the weather is permissible and take vacations. However, during the fall and the winter the prices of gasoline will decrease because people tend to drive less. According to the ( ) the demand for gasoline during the summer average about 5 percent higher than during the rest of the year. Changes in the cost of crude oil brought about many changes in crude oil markets were a major factor in all but one of the five run-ups in gasoline prices between 1992 and 1997, according to the National Petroleum Council’s study, U.S. Petroleum Supply - Inventory Dynamics . About 47 barrels of gasoline
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GladysMoore.Week2GM545RevisedReport - 1 Gladys Moore...

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