Rising Price of Gasoline

Paper Summary:

This paper discusses the steadily rising price of gasoline, especially over the year 2008. It discusses the impact this has had on American consumers and businesses and how these impacts are being felt across all lines of industry and in almost every aspect of consumers' lives. The paper then briefly discusses some of the views as to the answer to the high gasoline prices.

From the Paper:

"If the price of fuel is not in equilibrium, we have a market failure, at least temporarily. Market failures can occur many ways. In the case of the recent fuel price runup, speculation surrounds both negative externalities and monopolistic practices. The key externality under consideration is the role of commodity speculators. Both the Senate and Congress have addressed this issue directly. Senator Claire McCaskill directly challenged the US Commodity Futures Trading Commission to deal with the issue."

Sample of Sources Used:

• Boyon, Nick. (2008). As Gas Prices Near $4.00 a Gallon Nationally, Two-Thirds of American Say they have Changed their Driving Habits. Ipsos. Retrieved June 18, 2008 from http://www.ipsos-na.com/news/pressrelease.cfm?id=3953
• Carey, Nick. (2008). FedEx Posts Loss; Gives Low Forecast; Blames Fuel. Reuters. Retrieved June 18, 2008 from http://www.reuters.com/article/ousiv/idUSWNAS861120080618
• Kaiser, Emily. (2008). Fuel Spike Curbs Vacations, Dining Out. Reuters. Retrieved June 18, 2008 from http://www.reuters.com/article/ousiv/idUSN1744550120080618
• Douglass, Elizabeth & Gaouette, Nicole & Simon, Richard. (2008). Are Commodities Traders Bidding Up Food, Fuel Prices? LA Times. Retrieved June 18, 2008 from http://www.latimes.com/business/la-fi-traders21-2008may21,0,2916861.story

More papers on Rising Price of Gasoline:

• Essay # 34444 : "The Price of Gasoline"
• Analytical Essay # 140095 : "Why Are Gasoline Prices Rising?"
• Essay # 137519 : "Gasoline Consumption and Price"

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