Driving into the local service station, you notice that the gas prices have risen about a nickel since you stopped there last week. Gas prices have a major impact on our lives, affecting the economy and our daily activities. Phillips Petroleum Company Americans are using a record amount of gas, which contributes to higher gas prices.
Gasoline is the bloodline that keeps America moving.
Add commercial vehicles, recreational vehicles and other machines that run on gasoline and the number is even more astronomical. In 2001, the average fuel economy of cars and light trucks hit their lowest points since 1980, which only compounds the problem of higher gas prices. Gas prices have always been a sore spot for consumers. To the average person, it probably seems as though there's little rhyme or reason to how gas prices are determined. Over a period of a month, the cost of a gallon of gas can fluctuate by as much as 15 cents or more, as it did between April and May of 2001.