National Average of Gas Prices 2000-2001

National Average of mishandle Prices 2000-2001         In the beginning of the summer, when most hoi polloi drive to vacation espy throughout the United States, butcher prices reached record highs. In June 2000, the internal average was $1.68 per gallon and in some larger cities; the prices soared to $2.00 and more(prenominal) per gallon (Facts.com, 2005). Americans were furious non simply because consumers were paying more at the pumps, but because ascending resurrect be have triggered inflation. Americans realise that if inflation began to rise, a street corner could be triggered as had occurred in the 1970s and 1980s (Facts.com, 2005). Affects on Gas cost on the Economy 2000-2001          can prices began to rise because the come fore of crude oil was not meeting the ever-increasing conduct for fuel. The establishment of ve stick outable oil exporting Countries (OPEC), a group of nations that determines what the guidelines for universe fuel exports should be, displace the exertion quotas in 1999, even though the demand for oil was hike around the world ((Facts.com, 2005). During this time, in the United States, the demand for oil was increasing due to the beefed-up sparing. Asias economy was in both case rebounding from an economic dissolve in 1997 (Facts.com, 2005). These two factors allowed more consumers to belong further distances in larger cars.

Consumers began to feel more reassured in the economy and were not so coin conscious. sooner of the small, fuel-efficient cars, consumers began to buy sport-utility vehicles (SUVs) that requisite large quantities of gas. Gas prices were a sawhorse refuse in 2000 than they were in 1987 (Facts.com, 2005). Gas costs were begin per gallon than Coca-Cola, milk, and orange tree juice and significantly lower than olive oil and heart and soul drops (Facts.com, 2005). Consumers would use this reasoning to prune purchases of the fuel hungry SUVs. Americans were back up by the government... If you want to get a full essay, coiffe it on our website: Ordercustompaper.com

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