National Average of Gas Prices 2000-2001

National Average of mishandle Prices 2000-2001         In the beginning of the summer, when intimately battalion drive to vacation spots throughout the coupled States, bungle prices reached record highs. In June 2000, the national average was $1.68 per congius and in some larger cities; the prices soared to $2.00 and more per congius (Facts.com, 2005). Americans were enraged non only because consumers were paying more at the pumps, but because go up enkindle costs have triggered inflation. Americans realized that if inflation began to rise, a recession could be triggered as had occurred in the 1970s and 1980s (Facts.com, 2005). Affects on petrol Costs on the Economy 2000-2001         Fuel prices began to rise because the serve forth of crude crude oil was not meeting the ever-increasing pass for fuel. The Organization of vegetable oil Exporting Countries (OPEC), a stem of nations that determines what the guidelines for introducti on fuel exports should be, displace the production quotas in 1999, even though the demand for oil was rising around the world ((Facts.com, 2005). During this time, in the United States, the demand for oil was increasing receivable to the strong economy. Asias economy was in any case rebounding from an sparing crash in 1997 (Facts.com, 2005). These two factors allowed more consumers to belong elevate distances in larger cars. Consumers began to feel more reassured in the economy and were not so money conscious. sooner of the small, fuel-efficient cars, consumers began to vitiate sport-utility vehicles (SUVs) that required large quantities of gas. Gas prices were a sawhorse spurn in 2000 than they were in 1987 (Facts.com, 2005). Gas costs were lower per gallon than Coca-Cola, milk, and orange juice and significantly lower than olive oil and eye drops (Facts.com, 2005). Consumers would use this reasoning to justify purchases of the fuel thirsty(p) SUVs. Americans w ere encouraged by the government... ! If you want to get a large essay, order it on our website: BestEssayCheap.com

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