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Gas Prices Increase a Penny a Day

photograph from Money story

(4/11/2006)

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Most people drive a car every day. They drive to work, school, or shopping. Most Americans are very dependent on their cars. People are concerned about increasing gasoline prices.

It seems as if gasoline prices are going up more than they are dropping. Every day, gas prices go up more. The cost of gasoline has steadily increased all year. One organization says that the price of unleaded gasoline has jumped 29 cents in the past month.

One man has been thinking about why the price has gone up. He knows that crude oil prices have gone up. Gasoline is made from crude oil. That means that the price of gasoline will go up also.

He says that another reason for the price increase is the active hurricane season. Bad weather had an impact on oil drilling. It was difficult and dangerous for companies to drill for oil in the ocean. That meant that less crude oil was available. Special factories use oil to make gasoline. A factory that makes products from oil is called a refinery. A shortage of oil means that less gasoline can be produced.

Many people like to take long car trips in the summer. The weather is nice so they go on vacation. More trips will create more demand for gasoline. This will make the price go escalate even further. In California, the price has gone up $0.33 in the last month.

High demand for gasoline has made the price go up. This makes it hard for people to afford to travel by car.

(This was adapted from an original story provided by News10 KXTV Sacramento.)

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