Gasoline Prices

Gasoline Prices - Five on Five Please Nowadays, filling up...

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Five on Five Please Nowadays, filling up the gas tank is a dreadful experience. Gas prices are at a staggering high, and a future price drop does not look promising. The soaring prices are taking a toll on almost everyone in America. A reporter from USA today stated, “Gasoline prices in the coming months are likely to top $4 a gallon in some parts of the country, and perhaps nationally, the government said Tuesday” (Hagenbaugh 1). With that in mind, many citizens are carefully choosing their driving destinations, and some are choosing only to drive when it’s mandatory. In the past few weeks, the price of one barrel of crude oil has risen to a record high $109. Earlier in the decade, prices for the same amount of crude oil averaged around twenty to thirty dollars a barrel. Many people in the US aren’t aware of what one barrel of crude oil contains, and how much gasoline it can produce. One barrel contains 42 gallons of crude oil. This crude oil goes through a refining process in order to produce gasoline for an automobile. About 46 percent of one barrel can be converted into gasoline. This averages out to about 20 gallons of gas. The other 54 percent of the barrel is used to produce diesel fuel (about 7 gallons), jet fuel (4 gallons), and other useful petroleum products (EIA). Most of the crude oil used in the US is imported from foreign countries, but refined inside the United States. “In 2005, U.S. refineries
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This note was uploaded on 04/07/2008 for the course ENGLISH 111 taught by Professor Felzer during the Spring '08 term at Owens.

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Gasoline Prices - Five on Five Please Nowadays, filling up...

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