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On April 2, 2003, the New York Times published an article entitled, “Gas Demand Stalls as High Prices Hurt”. ... The article then concludes with some gasoline price figures, stating that prices reached an all time high last month. ... 99 a gallon for premium gas. ... An energy market analyst, Jim Ritterbusch, believes that people are changing their driving habits because of prices, and are not going out in general because they are interested in watching the news about the war. ... Because gas prices are so high, people are generally less willing to buy what is commonly referred to as a “gas-guzzling” sport utility vehicle. ... Recently pump prices have started to decrease because the crude oil supply is not under such a threat anymore. ... Suppliers feared possible shortages of gasoline and therefore the prices increased in an attempt to move the market back into equilibrium. ... The larger the difference between quantity supplied and quantity demanded, the greater the pressure for price to rise if there is excess demand and to fall if there is an excess supply. When quantity demanded is greater than quantity supplied prices tend to rise. ... If the supply of gasoline is short, the market places pressure on the price to rise. ... Which is another reason that gas prices have increased. ...
Gas prices affect everyone’s world every day, whether they know it or not.
Approximate Word count = 1100
Approximate Pages = 4.4
(250 words per page double spaced)
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