ECON 545 Course Project Part 1 Exercise 1 Everyones Gasoline Problem GM 545
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Course Project Part 1
Business Economics
VAIO
Exercise 1: Everyone's Gasoline Problem
Chart 1 (GasBuddy, 2013)
When look at the average regular gasoline prices in the past 12 months in Seattle, we can see that the prices have been fluctuating in between the one-year period, where regular gas prices average was exactly a year ago, and today (November 12)'s prices average is the lowest in 12 months at . Moreover, in the one-year period, the highest prices average was , which happened in May 2013.
Fluctuations on prices of gasoline are attributed to fluctuations on prices of crude oil. In United States, crude oil prices make up 72% of the prices of gasoline, the rest of what consumers pay at the pump depends on refinery and distribution costs,...
