The price of crude oil is the primary factor in the pricing of gasoline. U.S. refiners as well as other refiners worldwide are competing with one another to obtain crude oil. Refiners in the U.S. now import more than 60 percent of their crude oil from foreign sources (FTC, 2005). When the prices of gasoline fluctuate, whether it be an increase or decrease in price, the fluctuation is due to the increased or decreased pricing of crude oil.
Additional factors in the pricing of gasoline and in the supply and demand of this product are the increased demand for refined products such as diesel fuel and heating oil, a growth in the population which effects the need for additional crude oil and gasoline, the war in Iraq and weather, such as hurricane season, to name a few.
In the 1990's, crude producers were able to increase their production when necessary, enabling them to meet the demands of crude oil and gasoline therefore being able to keep the pricing stable. Over the years, U.S......

Join Now to view the rest of this term paper!
Members: Login to view this research paper.

Title: Changes In The Supply, Demand And Pricing Of Crude Oil And Gasoline
Approximate Word Count: 451
Approximate Pages: 2 (250 words per double-spaced page)

With the Term Papers Lab Membership Pass, you get instant access to every essay on this site, including this essay on Changes In The Supply, Demand And Pricing Of Crude Oil And Gasoline, for as long as you remain a member.

Other essays sites charge almost $100 for a single term paper. At Term Papers Lab, you can get instant access to over 100,000 research papers for as little as $29.95!