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Essay

What affects gas prices

Essay specific features

 

Issue:

Social Issues

 

Written by:

Douglas J

 

Date added:

April 24, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 482

 

Was viewed:

7059 times

 

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Essay content:

43% goes to crude oil, 31% to taxes, 13% to refining costs and the final 13% goes to costs and profits. Price increases usually occur when the crude oil market tightens and lower inventories. Growing demand can sometimes outpace refinery capacity. Prices can also go up because of the type of crude oil available...
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There are different types of crude oil. They are heavy and light and sweet and sour. Light sweet oil is easier and cheaper to refine. Lately sweet oil supplies have been running low. So more sour oil has been used, which costs more to refine. Another reason prices can go up is station markup. This is when gas stations add a few cents per gallon to make a profit...
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