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Home » Consumer Information » Automobiles Consumer Information » Automobiles Fuels » Gasoline Priceswork Gasoline Priceswork in Consumer Info Resource Directory |
In May 2008, average gas prices in the United States approached, and in some places passed, $4.00 a gallon, shattering records. But this was nothing new to American consumers. May was a month of records that broke one after another, and that came on the heels of months of rising prices.Gasoline is the bloodline that keeps America moving, and tracking gas prices can feel like a roller coaster ride. Theyre down a little one month, up the next, and then they shoot up more than 50 percent in a year. Plus, theyre different depending on where you look. Other countries and even other states and cities can have very different gas prices from your local GasNGo. To the average person, it probably seems as though theres little rhyme or reason to how gas prices are determined. In this article, we will look at the forces that impact the price of gas at the pump, and well find out where your gas money actually goes.Americans have an insatiable thirst for gasoline. Just look at the amount of traffic on roads and highways, and youll see that a severe gas shortage would practically cripple the United States. Americans drive nearly 3 trillion miles per year, according to the Motor and Equipment Manufacturers Association [source: MEMA]. Thats about 820 trips from the sun to Pluto and back.
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