Oil company price gouging.

Essay by ms0410College, UndergraduateA, November 2005

download word file, 5 pages 5.0

The fall of 2005 will forever be remembered for many things but the rise in the price of gasoline will definitely be in the forefront. The drastic weather in the gulf was considered a contributing factor to the change in the prices of gasoline and heating oil. The price changes have surprised and affected everyone directly and indirectly. The prices reaching an all time high have left its' mark on the middle and lower economic class people across the nation. Prices for gasoline doubled in some areas and nearly tripled in others. Although all classes have been affected by the upward spiraling prices it is felt most by the lower of economic standing persons.

When prices first started to escalate the public was informed that it was due to the weather conditions that were affecting the refineries that were located along the gulf coast. Due to an especially turbulent hurricane and tropical storm season this year.

The refineries were supposed to be shut down to better prepare for the impact of the storms and to preserve the refineries. Shuttling down the refineries limited the gas supply to the public.

Limited oil supplies being processed through the refineries contributed to the rise in gasoline prices and the long lines at gasoline stations across the nation. Along with the inconvience of stations closing because they were out of gasoline. In the states with a mass transit system people had alternative options to driving their cars to get around. In the southern states where there are limited to no mass transit systems people had to accept the rise in costs and deal with the inconvenience. In urban cities it affected the cab and livery drivers who make their living driving. The price of gasoline rising cut into their income with no immediate way...