Gas Prices Project by Jeremiah Dupont https://padlet.com/20070817/su7s7dc2hr8eodrk en-us 2022-09-30 16:57:35 UTC 2025-11-08 16:24:34 UTC hello@padlet.com What is the main resource used to produce gasoline for our cars? 20070817 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321380511 Gasoline is made when oil is made into various products by a process of fractional distillation.]]> 2022-09-30 17:08:26 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321380511 How does Supply and Demand play a role in prices being so low during this time? 20070817 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321388627 The way supply and demand have such a big role in this is because people everyday drive cars and other vehicles that use gasoline as fuel, so the demand for it is very high. We need to have a big supply of gasoline/petrol because so many people use it today.]]> 2022-09-30 17:15:00 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321388627 How have shortages/surpluses of this resource impacted the price of gasoline (i.e. what is going on in the world causing shortages/surpluses of this resource)? 2161447 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321396658 If prices are too high then the supplier has a surplus and reduces prices, and if prices are too low then shortages force the prices to raise up.The result when there is no market monopoly power or government intervention is an equilibrium price where supply and demand are equal.]]> 2022-09-30 17:17:05 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321396658 Links 20070817 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321398042 2022-09-30 17:18:12 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321398042 What time of year is gas the cheapest? How does Supply and Demand play a role in prices being so low during this time? 2027672 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321399636 Gas prices are traditionally lower during the first week of February. Demand affects the price because during this period of time the Demand for gasoline is usually at its lowest, and the Supply is expected to increase due to the lower demand]]> 2022-09-30 17:19:30 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321399636 20070817 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321399789 2022-09-30 17:19:37 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321399789 2161447 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321403879 2022-09-30 17:22:59 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321403879 Why are gas prices going up? 2161447 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321411683 High demand for crude oil and low supply pushed gas prices upward this year. And though the Federal Reserve has raised interest rates four times so far in 2022—and is planning on more raises in the near future to nudge prices down—there are other factors at play internationally.]]> 2022-09-30 17:29:02 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321411683 2161447 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321415284 2022-09-30 17:32:08 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321415284 20070817 https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321440556 2022-09-30 17:52:23 UTC https://padlet.com/20070817/su7s7dc2hr8eodrk/wish/2321440556