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Name: Instructor: Course: Date: Gas Price Abstract The price of gas has not been stable for several years in the global, regional, national as well as local levels. Many features have caused gas prices to escalate and this has caused many impacts to businesses as well as individuals.
Introduction There has been a tremendous growth in the global trade in gas. In the past years, there was no advanced pipeline infrastructure. In this regard, gas trade only occurred regionally. However, due to the availability of Liquefied Natural Gas (LNG) transport capacity, international gas trade have become more popular (Siliverstovs et al, 1). Gas prices are of irrefutable significance to consumers and economies at the grassroots, state, and nationwide levels in the United States and overseas. Oil imports offer a noteworthy proportion of North America and Europe’s refined gas, nevertheless, the international oil market is disreputably unsteady, and can create unexpected “price spikes” or “price shocks” (Bomberg et al, 1). Thomas indicates that increases in the gas prices pose a great problem to the consumers in general as well as to the global market. In this regard, it can affect most individuals and families by increasing their budgets. In addition, the various aspects that lead to increases in gas prices may appear mysterious to many people (1). Determination of Gas Price The determination of gas prices varies according to various regions. For instance in Europe, the energy sectors set the prices of gas in a manner that prevents the consumers from diverting to the alternative fuel. ...
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