Wednesday, March 6, 2013

Price of Gas and Consumer Goods


By: Ashley T.

High gas prices have been a major problem for consumers but this helps the economy to recovery. Not only do gas prices reduce consumers income at the pump they it also impacts every other item that they purchase. First, it takes gas to transport goods to companies to be produced into one product. Then, these products are shipped to stores around the country to be sold, having more gas be a cost factor. When consumers go to the store to buy the goods they are also paying for the transportation of those goods, this causing less economic activity.

In George Bush’s first term gas was $.92. Over Bush’s four year term gas rose to $1.12 . when Bill Clinton was president his four years caused an increase of gas of a total $1.42 from Bush’s latest price of $1.12. After awhile gas kept going up. Today under Obama’s power gas is over $3 in the 2012-2013 year with no signs of falling in 2013. This was the first time gas has stayed over $3 for an entire calendar year. Obama said he hoped to see higher gas prices in order to hope consumers to switch to other forms of energy.

1 comment:

  1. I never thought about how much gasoline actually impacts our lives. It's so true that something as simple as driving to the grocery store can really add up the gas bill. This post really opened my eyes to that. Great job!

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