Gasoline prices on economy

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Gasoline plays an integral part in society to the point where it is considered to be a necessity. Over the past 3 years prices have fluctuated as the forces of demand and supply have been in play. The industry is no doubt feeling the pressure of the global recession which has increased the price consciousness of consumers and forced gas stations to be more conscious of the prices it charges. It is not until we cut our appetite for oil and gas will there be a sustained reduction as well as greater stability in the price of these commodities. One notable exception to these legal circumstances is OPEC. OPEC is an intergovernmental organization of twelve oil- producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, The United Arab,...

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Published On:
10/22/2016
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gasoline-prices-on-economy-29.docx
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