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Retail gas vendors, "gas stations", have to pay up front for the gas they will ultimately sell. When gas prices are volatile and fluctuate wildly, the retailers have to accept all the speculative risk when they purchase the gas. If they pay too much at a temporary peak in gas prices, and then the price goes down sharply, they are forced to compete with other retailers who purchased their supply a little later at a much lower price and can therefore sell at a lower price. This means the retailer either "waits it out" and refuses to sell gas until the price goes back up, or sells at a loss. Contrary to general understanding, retailers make very little money on gasoline, perhaps a few pennies on the gallon. The converse scenario also exists where the retailer can be in a position to make a better profit if the supply is obtained at a low point, and the prices rise rapidly.
Ultimately the consumer is affected because fewer stations have gas when retailer hold off on refueling or just don't sell gas, creating lines and the well known panic that we have seen and are seeing again in 11/2012 NY/NJ areas.
The price volatility may not be as significant a factor in 2012 NY/NJ in the overall crisis, as there other factors, like structural damage to deployment technology along the distribution chain that is preventing delivery. However, it is likely that the perception of potential volatility around the national elections has had some negative impact...
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When did were the lines at the gas station around 1970?
In the early 1970s, particularly during the 1973 oil crisis, long lines at gas stations became a common sight in the United States. This was primarily due to OPEC's oil embargo, which drastically reduced the supply of gasoline and led to increased prices. Many consumers faced shortages, prompting long waits at stations that had fuel available. The crisis highlighted the nation's dependence on foreign oil and spurred discussions about energy policy and conservation.
Are the subway stations in the Bronx underground?
Most subway stations in the Bronx are above ground, but there are a few underground stations as well. The elevated lines, such as the 2 and 5 trains, primarily run above street level, while the 4 train has a section that is underground. Overall, the Bronx has a mix of both elevated and underground subway stations.
In the 1970 what was the reason for long lines at gas stations were caused primarily by what?
there was an oil shortage. Pres Carter mandated that people whose license plate ended in even number got fuel one day, odd the next. So alternating for some months till supplies picked up again.
What were Intel's products in the 1970s?
In the 1970s Intel had two major lines of products: DRAMs and microprocessors, with DRAMs being the core of its business.
Who was the gas shortage of the 1970's due to?
The gas shortage of the 1970s was primarily caused by a combination of factors, including the 1973 oil crisis triggered by an OPEC oil embargo in response to U.S. support for Israel during the Yom Kippur War. Additionally, rising global demand for oil, along with domestic production limits and government price controls, exacerbated the situation. This led to long lines at gas stations and widespread fuel rationing in the United States. The crisis highlighted the vulnerabilities of relying heavily on foreign oil sources.
Why there are lines in the car headlights?
the lines are caused by the plastic covering
Are fault lines caused by earthquakes?
No, fault lines cause earthquakes
How did Middle Eastern countries punish the US for supporting Israel after the Yom Kippur war of 1973?
They made an oil embargo, which caused higher oil prices, scarcity, and six-block-long lines of cars at the gas stations.
Which of these are lines on a weather map that connect weather stations that have the same air pressure?
isotherms
How is energy transferred from power stations to your home?
Energy is transferred from power stations to your home through the electrical grid. Power stations generate electricity, which is then transmitted at high voltage through power lines to substations. At the substations, the voltage is reduced for safe distribution to homes and businesses through power lines, eventually reaching your home through outlets.
What is underground in Mexico?
Currently (2015), there are three cities in Mexico with an underground rapid transit system:Mexico City: 12 lines, 195 stations, 226.5 Km in length, 4.6 million riders/dayMonterrey: 2 lines, 31 stations, 32.5 Km in length, 0.48 million riders/dayGuadalajara: 2 lines, 29 stations, 24 Km in length, 0.24 million riders/day
What happened to Gas Shortage in seventies?
The gas shortage in the 1970s, particularly during the 1973 oil crisis, was primarily caused by an oil embargo imposed by OPEC (Organization of the Petroleum Exporting Countries) in response to U.S. support for Israel during the Yom Kippur War. This led to significant increases in oil prices and widespread fuel shortages in the U.S. and other countries. Rationing was implemented, and long lines at gas stations became common, prompting changes in energy policies and greater interest in alternative energy sources. The crisis highlighted vulnerabilities in energy dependence and led to long-term shifts in consumer behavior and automotive industries.
