Gas Prices by Ari Becerril https://padlet.com/arib09/y5oy2lnj6dbvj23s Ari Becerril & Miranda Leal en-us 2022-09-30 15:48:02 UTC 2022-09-30 16:37:41 UTC hello@padlet.com https://padlet.net/icons/png/26fd.png Question #1: What is the main resource used to produce gasoline for our cars? Which countries are the biggest producers and which countries are the biggest consumers of this resource? Miranda_leal https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321301251 The main resources are Gasoline are crude oil and other petroleum liquids. The main producers are the United States, Russia, and Iran. The main consumers are United States, Russia, and China.

(https://www.eia.gov/energyexplained/gasoline/)
(https://www.worldometers.info/gas/gas-production-by-country/)
(https://www.worldometers.info/gas/gas-consumption-by-country/)]]> 2022-09-30 16:09:17 UTC https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321301251 Question #2 How have shortages/surpluses of this resource impacted the price of gasoline? arib09 https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321301581 Shortages and surpluses of oil impact the price of gasoline because if price for oil itself goes up then prices for transportation and production will rise as well, and in hand so will gas prices. If there is more oil than there needs to be then prices for production will decrease, and if there is less oil to make gasoline, prices for production will increase. (https://www.investopedia.com/articles/investing/100614/oil-price-analysis-impact-supply-demand.asp)


]]> 2022-09-30 16:09:32 UTC https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321301581 Question #3: What time of the year is as the cheapest? How does Supply and Demand play a role in prices being so low during this time? Miranda_leal https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321312746 The first week of February is when gas is the cheapest. People do not have a high demand so the prices go down due to less consumers. 

(https://www.convenience.org/Topics/Fuels/Changing-Seasons-Changing-Gas-Prices)]]> 2022-09-30 16:17:46 UTC https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321312746 Miranda_leal https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321313959 2022-09-30 16:18:39 UTC https://padlet.com/arib09/y5oy2lnj6dbvj23s/wish/2321313959