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Gas prices spiked due to refineries being shut down by hurricanes but had remained hyperinflated due to massive gas speculation in Wall Street. The price of unrefined oil barrels had risen above 100 but has now dropped to around half that and the gas companies are passing on the savings. What caused oil to be traded so high in the first place is an even better question and might be explained by the recent fear of the world drying up.
During a recession, business activity slows, and because energy is needed to run a business, the demand for oil drops. Thus, a price decrease.
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Which best explains an increase in the number of hybrid's sold?
The best explanation for for the increase in the number of hybrids sold would be the increase in fuel prices. As gas and oil prices began to rise during the global financial crisis, many people decided to buy cars which were more fuel efficient.
What did Not take place during the 1950s?
An engery crisis caused long line-ups at gas pumps.there were what were called gas wars where station owners would drop gas prices so low that people actually fought to get to the pumps.
How much was gas per gallon during the gas crisis in the 1970's?
$2.30 a litre u nut!!!!!
Did gas prices go higher or lower during the last year?
the gas prices went higher some places are almost $4.00.....
Oil and gas crisis 2006-2009?
There is still a gas crisis we are currently running out of gas
Was the autobahn ever closed?
in the 70s during the oil crisis, they closed the autobahn sundays to save gas
What was one of the major causes of inflation and a recession in the US during the 1970 and early 1980?
Gas crisis
What has changed since the 1900?
i was born, you were born, people died, wwi and wwii, Vietnam wars, cuba missile crisis,
Did Gas and oil prices fell during the Reagan presidency?
No. They have been going up little by little for the last 30 years since the 1970's oil crisis. The oil companies and speculators have been pushing prices to the 5.00 a gallon mark. It is finally there even though demand has gone down.
lowest gas prices?
lowest gas prices ? lowest gas prices for southern illinois ?
Are gas prices high in Canada because of the Libyan crisis?
It can be one of the causes: Due to Middle East uprisings and unrest, the supply of natural gas has been disrupted, reducing the supply and thus, increasing the price.
What were gas prices in 2009?
the gas prices in 2009 were about 3.20
