Title: Why Gas Prices Are Rising So High - Reasons for Fluctuations
Headings: Why Gas Prices Are Rising So High – Reasons for Fluctuations
Why Gas Prices Are Rising So High – Reasons for Fluctuations
Why Gas Prices Go Up or Down
1. Changes in Crude Oil Prices
Seasonal Changes
Foreign Affairs
International Trade
Price Manipulation
Currency Changes
Advances in Technology
Development in Emerging Countries
2. Changes in Refining Costs
3. Problems With Distribution
4. Changes in the Gas Tax
Federal & State Taxes
The Impact of Carbon Taxes
Final Word
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Content: The boom in shale oil has not only helped reduce dependence on foreign oil but made the U.S. one of the world’s top 10 exporters of oil. Development in Emerging Countries
The other factor that affects oil prices over the long term is economic development in East and South Asia. As manufacturing jobs have shifted from the developed world to countries like China and India, where labor is cheaper, these countries have needed more and more oil to fuel their growing industries. That drives up global demand, which results in price increases. Asian countries are behind most of the rise in oil demand in recent years. According to the World Oil Review, global oil demand grew by 1.4% in 2018, with half that growth coming from India and China alone. In 2018, China was the second-largest consumer of oil globally, using more than 13,000 barrels per day. That’s nearly three times as much as it used in 2000, less than 20 years earlier. 2. Changes in Refining Costs
Although gasoline prices tend to move up and down along with crude oil prices, they’re not perfectly in sync.