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Gas Prices On The Rise

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by

sofia caprez

on 20 May 2014

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Transcript of Gas Prices On The Rise


they're priced depending on the basic rule of supply and demand. light or 'sweet' oil is most commonly sought after because of its lack of impurity's. thick or 'sour' oil takes more time and processing to get to the correct refinment of gasoline.
rises and falls in prices
in 2004 the average price of gas was about 2.00$. then 4 years later in 2008 gasoline hit its peak price at around 4.00$. later in that same year gas dropped majorly to around 1.60$. Prices have slowly been gaining over the past years and the average so far in 2014 is about 3.60$
Why are prices different in different places
In different areas of the country there are more places where oil is drilled for. where there's more oil the cost of it is less. In places wheres there's not as much oil the price is very high.
Bibliography
http://www.investopedia.com/articles/economics/08/gas-prices.asp

http://www.gasbuddy.com/gb_retail_price_chart.aspx

http://usatoday30.usatoday.com/money/industries/energy/story/2012-03-04/cnbc-why-gas-prices-differ-between-states/53339652/1
Gas Prices On The Rise
How are gas prices decided on?
Why does the price vary so much?
Gasoline is a limited resource so depending on how much oil is being pumped out of oil derricks determines how high or low the prices are.
By: Sofia Valdespino
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