solely gasoline powered counterparts. While hybrids have their upside‚ they are still powered by gasoline and can be costly compared to non-hybrid vehicles. Hybrid cars are‚ primarily‚ gasoline powered cars with an electrical motor assist. These vehicles rely on hybrid technology to provide higher gas mileage and also lower exhaust emissions. The hybrid vehicle is more complex than an ordinary gasoline powered vehicle because it has two motors‚ one electric and one gasoline. Gasoline powered
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determine: The gasoline price for a given trip distance‚ mileage and average speed. Solution: Total gasoline price for 1500 mile trip with an average speed of 60 miles per hour is $182.81 and that with an average speed of 75 mile per hour is $234. Explanation: Given: "Trip Distance =1500 miles" Trip Distance = 1500 miles Mileage on highway = 32 miles per gallon with an average speed of 60 miles per hour and 25 miles per gallon with an average speed of 75 miles per hour. "Gasoline price =$3.90
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corn‚ the gasoline and diesel fuel commonly used today derive from the same source--crude oil. Although they share the same parentage (just like motor oil‚ some plastics‚ and Velveeta)‚ they have very different properties. Gasoline is often thought of as being a single chemical‚ but it’s actually a complex mixture of hydrocarbons that generally have 4 to 12 carbon atoms in their molecules. In the case of gasoline made from Oklahoma crude oil‚ "5 compounds make up 29% of the gasoline fraction‚
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BACKGROUND2 BuyGasCo Corporation (BuyGasCo) is a major national chain of retail motor fuel (gasoline) service centers. This privately held company is very successful and has been in existence for 35 years. The service centers‚ owned and operated by BuyGasCo‚ are straightforward and typical of those in the industry. The main function of these service centers is to sell gasoline. The company sells three types of gasoline: regular (87 octane)‚ plus (89 octane)‚ and premium (93 octane). Each service center
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Substitution and Income Effects Abstract This paper examines the effects of gasoline price increase over the period of a summer. It looks at the income effect and substitution effect of different scenarios to determine how the author should best make up the difference in cost based on the same income. Seven scenarios are examined; driving less‚ eating out less‚ less spent on maintenance‚ public transportation‚ bicycle‚ no vacation and fewer extra expenses. Using graphs to demonstrate the
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contribute to rising gasoline prices. The major cause for increasing gasoline prices has to do with refining capacity. Even if oil were inexpensive‚ we would still have a problem converting it into the gas that fuels our economy. That is what keeps the gas prices high. When gas supplies are short‚ due to an “inability to refine crude oil into gas efficiently‚” prices increase. This is a component of supply and demand economics. In a positive aspect‚ rising gasoline prices do serve a purpose;
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Case study 3 United States - Standards for Reformulated and Conventional Gasoline INTRODUCTION On 23 January 1995‚ the United States received a request from Venezuela to hold consultations under Article XXII:1 of the General Agreement on Tariffs and Trade 1994 ("General Agreement")‚ Article 14.1 of the Agreement on Technical Barriers to Trade ("TBT Agreement") and Article 4 of the Understanding on Rules and Procedures Governing the Settlement of Disputes ("DSU")‚ on the rule issued by the
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the service station level as well. If a retailer prices its gasoline too high‚ and without regard to competition‚ the retailer ’s customers may take their business to another station with lower prices. If a retailer loses enough volume‚ the retailer may then reduce prices in order to retain its customers. Competition among retail outlets thus affects pricing. You may notice that sometimes there are price differences between two gasoline stations on a busy street corner and between those outlets and
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Fluctuating Gas price Gasoline has become an essential part of life‚ something in which many of us have become dependent on. The price of gas is closely watched by the millions of consumers‚ and with the fluctuating prices it has many of us feeling drained‚ and always asking a common question; why do gas prices rise and fall? There are several factors that cause gas prices to fluctuate. One factor being the price of crude oil itself. Crude oil is used in the production of gasoline‚ so it ’s an essential
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Changes of Gasoline Retail Prices from 1999-2008 Economics James Bork Chris DeShaney October 11‚ 2010 Over the period of 1980 to 2010 the prices of gasoline have fluctuated a lot from lows to highs. There were some drastic prices increases from 1999 to 2008 changing from one dollar to four dollars. After 2008 the prices suddenly fell off drastically but never have returned to what they were in 1999. The main cause for the rise and fall of prices over the years can be attributed to the supply
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