Gas prices over the past ten years

Question

Does anyone know where to find possibly a chart, list, or something online of what the prices were from ten years ago, until now? The US in general is fine. But if there was spicifically a site on CT, it would be a GREAT help.

Thanks in advance. (:

Answer 1

How about 6/years?

http://66.70.86.64/ChartServer/ch.gascha...

Answer 2

http://www.gasbuddy.com/gb_retail_price_...

Answer 3

DeVry Inc.

Business Economics

“EVERYONE’S GASOLINE    

  PROBLEM”

Keller Graduate School of Business

Professor Anthony Shotwell

Table of contents

Table of contents 2

Abstract 3

History of oil prices 3

Discussion of Current Issues 4

Bibliography 5

Abstract

The price of oil was taken for granted for more than one century until for the first time USA experienced the hardships of its intense dependency of oil in the 70’s with the OPEC incident. USA supported Israel during the war. As a response the Arab nations declared an oil embargo against the USA and other nations, stopping oil deliveries to these countries. The reaction to this crisis was to look for alternatives forms of energy and improvements in efficiency. We have the example of Brazil. It found a permanent solution against oil dependency by using Ethanol.  The United States, in the other hand, was pretending to be looking for other energy alternatives but today we can attest that no permanent solution was implemented. Today in 2008 looks like the same situation is going to repeat itself over again unless this time we implement a more permanent energy solution. What USA should do, so this energy crisis does not repeat again? What are the economic effects of this high gasoline prices?

History of oil prices

In reality for a long time, more than one century, we have not been paying the real price of oil according to the time line of the crude price of oil provided by WTRG Economics:  Since1869 until recent price increases US crude oil prices have averaged $21.05 per barrel. (Williams, 2007) for all this time there has been no problem with the supply of crude oil. Energy solutions have not been in the priority of the agenda for the government and the people have forgotten the 1973’s crisis wish for it not to happen again. The world picture has change. We have developing countries that are consuming great amounts of resources in their production lines. China for example consumes 6,534,000 barrel per day of oil. China has become the second biggest consumer in the world.(NationMaster, 2007)

Discussion of Current Issues

The world has grown its demand for oil as new developing countries enter the industrialized world of production. The demand curve has been shifted to the right. That means that the greater demand for oil has created a shortage or at least an apparent shortage in which consumers are willing to pay higher prices. But help is on the way.

An ocean exploration to find oil in the area off Brazil's coast may bring great rewards.

The Brazil's National Petroleum Agency suspects that a reserve of oil encountered in the cost of Brazil could contain as much as 33 billion barrels of oil. That would make it the

World’s third-largest known oil reserve found to this day. (CBS News, 2008) more supply of oil together with alternative energy sources (substitutes) will bring to equilibrium our energy problem.

Bibliography

Williams, James L. (2007). Oil Price History and Analysis. Retrieved August 4, 2008, from www.wtrg.com Web site: http://www.wtrg.com/prices.htm

CBS News, (2008, April 14). Brazil Oil Find May Be World's 3rd Largest. Retrieved August 6, 2008, from CBS news.com Web site: http://www.cbsnews.com/stories/2008/04/1...

NationMaster, (2007, Jun 14). Energy Statistics- Oil Consumption by country. Retrieved August 6, 2008, from Nation Master.com Web site: http://www.nationmaster.com/graph/ene_oi...