Friday, June 1, 2018

Gas Prices

Sammi Dominiak
Whether we like it or not, gas prices are rising again and unfortunately they do not plan on decreasing the price in the near future as we are all hoping for. Gas prices being increased has a big effect on what we spend our money on because gas is a necessity when you need to drive to work or school. Spending more money on gbas means that most of us will have less to spend on  other goods or services.

The Price for gas is rising quickly and there are no plans of stopping that, gas is $3 in the suburbs currently and merely $5 in the city. President Trump wants to drill of the entire U.S. coast in order to produce more oil and gasoline. Though the United States is the third top oil producer in the world, we want to move higher up the totem pole. People living on the coast have a big disagreement with the thought of drilling on setially land that could be potentially harmful to drill on. The risk of an oil spill on one of the beautiful beaches that line the coast is not low and even the thought of an oil spill is scaring the residents in the area.
Why are gas prices increasing so much? With the economy and government crashing in Venezuela we are expecting the production of oil and gasoline to drop very soon, so raising the gas prices is the short term solution to a long term problem. As the production levels drop more and more gasoline prices will begin to raise more and more so that the U.S. is able to keep a steady economy. We need our economy to stay steady because if we were to decrease gas prices while the production of gas is dropping it would only take a huge bite out of our economy. However another good part of the gas prices rising for the economy is that the use for public transportation will be more necessary helping keep our economy up and thriving.


Works Cited:

Amadeo, Kimberly. “Why Are Gas Prices So High?” The Balance, The Balance, www.thebalance.com/why-are-gas-prices-so-high-3305653.

Crudele, John. “Why Gas Prices Are so High - and What Americans May Have to Risk to Make Them Lower.” New York Post, New York Post, 24 May 2018, nypost.com/2018/05/23/why-gas-prices-are-so-high-and-what-americans-may-have-to-risk-to-make-them-lower/.

Folger, Jean. “How Gas Prices Affect The Economy.” Investopedia, Investopedia, 16 Oct. 2015, www.investopedia.com/financial-edge/0511/how-gas-prices-affect-the-economy.aspx.

22 comments:

  1. Given the fact that I need to pay for my own gas the thought of process staying where they are at is not all that exciting. I drive a lot and I have been sick of seeing the price I have to pay once my car is done at the tank but hopefully trump can reach a compromise with the people living on the coast so we can do something to drop that price again.

    ReplyDelete

  2. I agree, because of the recent rise in oil prices now that are affecting gas prices, there will be much less spending on other goods and services so that people can save that money and put it into their transportation cost. Gas is something that almost everyone buys and if these prices continue to increase, then there will be much less spending and many unhappy people. Finally, the reason for this rise in oil prices in because of the crashing economy and government in Venezuela. Therefore, raising the prices of oil will help bring Venezuela’s economy back up.

    ReplyDelete
  3. Gas prices is one of those common things that people like to moan and groan about. It’s common ground for many if us. I didn’t know that the gas price rise was due to the government crash in Venezuela. Hopefully Trump won’t drill into the beaches and ruin all of our coast line. Hopefully the gas prices will settle down soon.

    ReplyDelete
  4. I like this post because I noticed gas prices rising and was upset but I wasn't sure why exactly it was happening. I completely agree with what you said about when gas prices go up people spend more money on that, since it is a necessity, and less on other goods that we want. This is a good example of opportunity cost since me and many others will be giving up money that we would be spending on other items and instead put it towards gasoline. I think that this temporary fix is not smart, instead we should be focusing on finding new sources of fuel for cars since in the future we will run out. So instead of putting money towards new drill sites maybe we should put more money towards research in order to help ourselves in the long run.

    ReplyDelete
  5. Gas is something everyone uses and there is not many ways around it. There is a high demand for something that is scarce, so the U.S. needs to increase price in order to prepare for the economy and government crashing in Venezuela. This piece that was written shares a good point that we have to plan ahead before the economy crashes in Venezuela. Although people aren’t happy about having to drill closer to shore, it is hard when there is such a high demand for something and we are unsure when the economy in Venezuela will crash and no longer be able to provide the gas and oil they have been.

    ReplyDelete
  6. Considering that I have to pay for gas in a vehicle that gets around 16 miles to the gallon, I can relate in the sense that I have been noticing a rise in gas prices and that it is not going to stop. I hope that Trump is able to come to an agreement with people living on the coast so that the gas prices for us can remain the same, if not go down. This is definitely an opportunity cost that I consider when making decisions because of the money that I could be spending on other things, like clothes or food, but have to spend on gas. Also, right now with the hurricane going on in the south I have noticed a rise in the gas prices just because of the need for people to be leaving the Carolina’s and the limited supply of gasoline that we have.

    ReplyDelete
  7. hopefully the gas prices lower soon because it is very expensive. when i used to drive my moms car i'd have to put gas in it every time, her car sucked down gas like it was nothing. i agree that these prices expensive and should lower soon.

    ReplyDelete
  8. I really like this post considering the fact that I do drive a car and I also pay for gas so this rising cost for gas affects me and I can relate to this issue more. When I was a kid I noticed that the gas prices were rising and I always thought of that as a horrible thing. Like the government was trying to get more money because people need gas to get places and no matter what they are going to pay for gas whatever the price is. This definitely represents the opportunity cost because maybe we have to give up starbucks for a day or two just so we can fill up our car with gas and get to places that we need to get to. Gas is a huge part in the economy because almost everyone uses gas whether you take a bus or drive a car. I feel like since the world will eventually run out of oil to make gas that the raise in gas prices is efficient to the decline of creating gas, will not have another economic breakdown. In the end I do agree that raising the prices of gas is essential in the long run so our economy and Venezuela’s economy does not have a crash because if the US economy crashes it affects everyone.

    ReplyDelete
  9. I agree with what they are saying that gas is getting more expensive because when i didn’t dive i was like gas is not that high. Now since i'm seeing how the price of gas has gone up and don't see it coming down for a while. Even on spending for the necessary things cause you need gas to get to work and back but you also need the other necessary thing to survive and the price of gas going up has made it hard for people to survive.

    ReplyDelete
  10. Jacob Dundon- I would agree that the government is only trying to benefit use later on by raising the gas prices, but while they raise the gas prices they are also taking more money out of the pockets of citizens that are thriving for money and making them closer to becoming poor and making it so much harder for those citizens to live without financial problems.

    ReplyDelete
  11. Gas prices are always fluctuating. One day everyone’s happy that the gas prices are so low, the next day they could be raised $1. I agree with what you said about how people will be spending more money and gas than other goods and services. When the gas prices go up, teens might not have as much money to splurge on other items or goods. It’s also a good example of opportunity cost. When you spend more on gas, you can’t spend it on other things. This could potentially be a bad situation for some people, for example you wouldn’t have as much money to buy food or things you need, however, it could be good. You would spend more money on gas and less on little things you don’t need like Starbucks. This could maybe save you some money by not buying smaller, unimportant things. It all depends on the situation you’re in and how you choose to spend your money.

    ReplyDelete
  12. I agree, being someone who pays for their gas, if it does begin to go up and eventually become too expensive, I would definitely find other ways to get from place to place instead of using and having to pay for so much gas. When we are drilling for oil in our own country like Trump wants to do, you have to think of all of the risks, such as oil spills, which can have a huge impact on our country if something like that does happen.

    ReplyDelete
  13. As I was reading this post, I was thinking to myself how drilling for oil is such a problem on the coast. I can’t drive yet so it is a little bit irrelevant to me at the moment but in 2 months I will be able to drive, and then this problem pertains to me a lot. Additionally to driving, I love going to beaches to swim and have fun and hang out in the sand, and I have first hand experience of how beautiful the beaches are out on the East coast. I feel like the fact that President Trump wants to drill more to make more money is good, but I agree with the fact that raising prices is only a short-term solution to a long-term problem, and because gas is such a necessary good to all of the human race, there needs to be a better solution to the problem such as some sort of compromise with people living on the east coast to have access to that oil.

    ReplyDelete
  14. I like it because the thing that people use the most and depend on the most is gas. Cause it helps you get to home, work and school. If you don't have to spend so much money on gas you can get food or put it towards going to college. things that are more important than buying gas. If Trump drills for more oil on the coast it'll ruin all of our coast lines. Because I agree with Abby F in what she said in the end

    ReplyDelete
  15. I agree with what the articles is saying, due to the recent implications within the Venezuelan government and other oil producing countries have to pick up the slack from what Venezuela is not producing. The gas prices around the world are going to be going up because they have to adjust for the decile of gas which means it has to be more expensive because there is less gas and oil. Hopefully Trump won't have to drill into our coastline and ruin all the beaches due to this implaction. Hopefully the price of gas will go down soon

    ReplyDelete
  16. After reading your post I never realized that our rise in gas prices was due to the falling economy/government in Venezuela. I also agree with your thoughts about where our gas prices should go from this point forward. As you mentioned many people will not be happy with another rise in gas prices so it’s only fair to stay around where the prices are today. This is because if we continue to go higher in our prices more people won’t buy gas and/or they will lose more natural resources for themselves and families. As much as all of us would also enjoy a decrease in the gas prices, it is clear to see why we shouldn’t go down that road. If all gas was priced lower than what it is today, people would take over that opportunity to pay less and run our sources dry. This would only lead to potentially destroying the natural land around us further until there is no turning back.

    ReplyDelete
  17. When talking about gas prices increasing and all, we have gone through this a couple of times and will most likely find a way to fix this before it gets worse. People on the coast should learn that not everything is going to be perfect over there and we need the oil/gas. There is this entire world where they could move anywhere but they argue with where they are at. No one should be able to stop the government if they aren’t in the government. Finally, this is a great topic to choose but I just feel like the prices will not rise very high over time and we’ll have to see what happens.

    ReplyDelete
  18. Gas prices are always fluctuating but when you car eats gas like theirs no tomorrow and your'e having to fill up every few days or so that price is going to add up and make a dent in your pocket.

    ReplyDelete
  19. This post made me realize how expensive gas really is, although I don't drive that many different places, I do have to pay for my own gas. I have to buy gas about once every 2 weeks. So, cheaper gas would make my gas buying experience better. Sense I don't live on the coast, I am not going to be impacted by the drilling for new oil. However, I can definitely see why these people would be skeptical. If we end up doing this that may make the people who love on the coast feel besmirched due to the fact that we're basically disregarding their concerns.

    ReplyDelete
  20. I agree with this article that the gas prices should have remained constant and should not go up. Due to when the prices of gas go up less people will purchase gas. But Looking at what he said about President Donald Trump wanting to drill off the entire US coast, this is the cause of oil spills. Oil spills do not just affect us, it also affects the wildlife and the rest of the environment. We are responsible for all the animals that were hurt or killed due to all of the oil spills. We need to think about the animals who can not speak up for themselves as well as the environment.

    ReplyDelete
  21. This topic has been disputed for a long time, and there is always news about gas prices increasing and decreasing. It is a perfect example of price level stability and how the prices of gas can inflate when the production of oil decreases. I believe that the residents who live on the coast should be less selfish about the issue, I mean they are also hurting themselves since they pay for the same gas so there's no win for anybody. It is also beneficial to consider the opportunity costs and trade-offs, how much are you willing to spend on gas? Is it worth buying a new car with better gas milage to save hundreds of dollars in the future?

    ReplyDelete
  22. The problem is that we need gas everywhere no matter what and depending on the place where we get that. I think that if we were living in Cali I think that gas would be more than some places. And I know that every person is responseable with gas because I know that I pay for my own gas. But there are some people that they dont pay for it they have their parents so they don't have to worry about it. I think that the government should know that people who are in high school they have to pay for their gas too and some of us don't have a parent that is willing to help us pay for gas or for anything. They need to know that we have to work really hard to just live here and there is some people that they don't have anything and that paying for a lot of gas. And if the earth isn't going to run out of gas i think they should have the price go down.

    ReplyDelete

Related Posts Plugin for WordPress, Blogger...