Read the article and comment on what this article has to do with supply and demand?
Thursday, October 1, 2009
What does gas prices have to do with supply and demand?
Read the article and comment on what this article has to do with supply and demand?
Read the article and comment on what this article has to do with supply and demand?
I am glad to see that gas prices are going down. It is definitely a relief when I go to fill up my gas tank and it doesn't take 50 dollars. This is one way the recession is benefitting some people. Since the demand is so low, the prices are also low. More people are using alternate forms of transportation therefore lowering the demand and of course the price.
ReplyDeleteIf there is more gas, then there is going to be less demand for it because the people that need the gas don't have money to buy it because of the recession. Gas does have nowhere to go but down because as more people cut down on gas, the more gas prices will go down. Which will then make the people want to buy the gas because then it'll be cheap.
ReplyDeleteIt make sense to me that gas prices have dropped, and I am glad to see those prices fall. Due to the recession, people have traveled less and tried to conserve gas. With gas prices decreasing, more people will be able to travel a little bit more. I am glad I don't have to spend half of a pay check just on gas anymore.
ReplyDeleteIt seems like we have hurt ourselves by not using as much gas. Now that the price for crude oil is dropping, the system expects people buy more gas. But the unformed masses don't realize the price has dropped so as the article said, "Supply is high but demand is desolate."
ReplyDeleteit's a very good thing that gas prices are going down. Now that the demand is low, prices are gong down and this is benefitting people very highly. now they don't have to spend all of their money on just gas and they can spend it on other things they need.
ReplyDeleteThere really isn't a high demand for gas because people have been conserving and trying to travel less. Price has dropped because there isn't really a high demand for it, therefore there is a greater quantity of gasoline. Also, the quantity demanded has gone down because people don't have tons of money to spend on gas and other things.
ReplyDeleteGas prices have thankfully been going down. They change all the time but for the most part they are alot better than what they were a year ago. Since the prices were high people were trying to save on gas and not go out as much and now its changing because of the prices not being near as bad.
ReplyDeleteI hope that gas prices will continue to drop, and hopefully they will stay low. It's hard to believe that just 20 years ago, gas was only $1 per gallon. It would be great if gas prices would get that low again, because it would save people a lot of money in these rough economic times.
ReplyDeleteThe gas prices dropping is a good thing no mattter who you are. People do not want to pay a lot of money to get gas in their car. The demand for gas went down and therefore the prices went down as well. People have been car pooling a lot more lately or just not going anywhere at all.
ReplyDeleteIm happy to see the gas prices going down. People will benefit from the prices dropping. it would be great if the prices went down to $1 like they were 20 years ago but i dont see that happening.
ReplyDeleteI'm glad that gas is cheaper now but the reason for the price going down can also be the undoing of people that drive gas cars in a few years. With all these people buying cars that run on electric and stuff demand will continue to drop and then the government might start taxing gas so much the people that don't drive electric cars will be forced to switch. but that is only a possible future outcome. for now though the price drop is good news.
ReplyDeleteI am definately glad that gas prices are continuing to drop. This is a big relief on my wallet compared to months ago. As for supply and demand, since there is a low demand for gas, the prices are lower. People are not spending as much time driving places that arent necessary therefore not using as much gas.
ReplyDeletepraise the lord that gas prices are going down because that is what is killing my budget almost half of my money or more goes towards gas alone ...its hard on everyone especially ppl with small budgets
ReplyDeleteIts good that prices are going glad. It still costs a lot to fill up my tank though, about $60. I hope it keeps going down. I guess its a good thing that demand is going down because it shows we are less dependent on gasoline.
ReplyDeleteI'm glad to see gas prices are finally going down, my mom now doesn't have to spend all her money just to get a few gallons of gas.
ReplyDeleteFinally, gas prices are going down. It is a major concern to me considering I am currently working on getting in 50 hours of driving time. I'm hoping the gas prices will continue to get lower but with this particular product's supply and demand, you never know.
ReplyDeleteIt is good to see that the gas prices are going down. This could help the economy. If the prices are down then people will be able to buy gas more often, sending more money through the economy. Hopefully gas prices will continue to drop.
ReplyDeleteWe still have a decent amount of gasoline that we can supply to people but because of the recession people use less money on gas. The prices are dropping because we still have to sell the supply but people aren't willing to pay big prices for them.
ReplyDeleteI am happy that gas prices are going down. It is unfortunate that the demand is down while supply is up. But really, i don't care because I get gas cheaper.
ReplyDeleteIts good to see the price of gas go down. Being one of few of my friends that can drive, I often have to give a lot of rides. This uses up a lot of my gas, and when prices are up it takes a hit on my wallet. Low gas prices definatly benefit me a lot.
ReplyDeleteIts good to see that the price of gas is finally dropping. Hopefully these prices will stay low. A lot of money goes into gas so it's good to see we may have a little more money left, instead of spending it all on gas.
ReplyDeleteThank the Lord!! (Not intended to offend) =] But Gas prices going down are a BIG relief!! This is something that the people need right now. it's a good thing the demand is low. It's a great thing.
ReplyDeleteNow that the price for crude oil is dropping, the system expects people buy more gas. It's hard to believe that just 20 years ago, gas was only $1 per gallon. It would be great if gas prices would get that low again. But since they;re not then the demand for gas will always remain as the supply for gas will fluxuate
ReplyDeleteIt is good to see that the gas prices are going down. This could help the economy. If the prices are down then people will be able to buy gas more often, sending more money through the economy. Hopefully gas prices will continue to drop.
ReplyDeleteBecause we are entering the colder sessions gas will be lower. Not many people will drive in snow and only go out when needed i.e. gifts and food. So for a wile gas will be low before the holiday sessions then it might go up.
ReplyDeleteI'm happy to hear that gas prices are going down. The recession has caused people to fill up less and use alternate ways to travel, so the lack of demand has lowered the high cost. I hope this can continue.
ReplyDeletethank God gas is going down! jeesh, now that i have my own car and the responsibility of paying for gas and insurance really teaches me how to save my money. i'm glad its going down so now i can spend my money on other things instead of just gas.
ReplyDeleteBecause people have been trying to save money, the demand for gas has gone down. This is a good thing and people will probably benefit from this.
ReplyDeletei'm def. pretty excited to see that the gas prices are dropping, so i can get more than 4 or 5 gallons at a time. it makes sense that as more and more people decide to travel less as a result of the recession gas prices go down. if there is more of something it is not so expensive, it's basic supply and demand
ReplyDeleteAs agreed with I'm sure eveyone ele, this is great!
ReplyDeleteI couldn't imagine being in the situation that I'm in (no job and a driver) while having to pay that 4 dollars that gas used to be.
If that ever happens again, I don't know if we could handle it, because so many peole are still recovering from our recession.
I love low gas prices. $25 is definitely better than $40 and up. Still money is tight so people aren't making as many long trips and are trying to limit the amount of times they get gas a month. Demand is low so price is low.
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ReplyDeleteThe drop in gas prices is obvious that the demand is down. Which is nice since I'm driving and learning responsibilities now. The only thing i have on this is now that once everyone sees gas prices go down then the demands gonna go back up because people are gonna want to get gas when the price is down which will then lead to the demand and prices increasing once again. This process will keep repeating itself until a real solution is brought up. Which could take some time...
ReplyDeleteI think maybe more people are taking public transportation, and carpooling to work and wherever they have to go. That is why the demand is down. But it is good to see we are at least getting a break somewhere.
ReplyDeleteI think people are now using public transportation, and that is why the demand is down. Also people just don't have the money to go anywhere due to the recession. But it is nice to have a break when I go and fill up my gas tank.
ReplyDeleteIm very happy to see gas prices going down because it doesn't take up all my money anymore which is a relief . Now I think the recession is beneficial because of this.
ReplyDeleteI'm happy to see gas prices go down. Since my family is always traveling its nice not to worry about gas prices, but it is not so good that the unemployment rate has gone up which means more people have less money. Meaning they can't afford gas which really stinks considering the prices have gone down.
ReplyDeleteIt's good to know prices are going down, I myself don't drive but I know it affects other people, but it's good to know since so many people are finding other ways of transportation so the demand is low and so is the price
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ReplyDeleteThe gas prices that are droping is a good thing for anyone. It also helps the economy out alot. It keeps money in people's pockets in which help stimulate the economy cause they are not spending all their money in one place.
ReplyDeleteIt's a good thing gas prices have been going down. people can spend there money on other things instead of gas. I wish the demand continues to stay low that's what my family needs right now!! I'm sure a lot of people would agree.
ReplyDeleteIt's a relief that the gas prices have fallen. When gas prices were higher people stopped doing as much as they had been and also finding different ways of transportation. As the demand for gas is low the prices naturally drop as well but with the prices being low people will also being rushing to fill up before the prices go back up...which will definitly help the economy.
ReplyDeleteI am very happy that the gas prices are going down. It is a huge relief for everyone. Since the gas prices are going down people are able to afford it which means more money to the economy which is great!:]
ReplyDeleteIm very glad to see that the price of oil is going down. Now that the demand is low and prices are not that high for gas anymore people will start buying gas now . Lets just hope it stays that way!!
ReplyDeleteOne problem with me doing this blog so late is the fact that gas prices have gone up since this article has been posted. I wish the gas prices could level off and stay near the same price and not fluctuate by so much.
ReplyDeletethere are less people driving and less people buying cars. they find that its cheaper to take the bus, or walk, or ride a bike. since there is less people buying cars or driving, the demand for gas goes down so that also brings the price down. this is great!
ReplyDeletegas prices going down is a good thing. the less gas people use, the less the cost will be because they want to sell it quickly. low demand, low prices. if we continue to not buy as much gas, when we really need it, it wont cost us as much. im in favor of this!
ReplyDeleteits a good thing to see gas prices going down. cause i have to pay for my own gas and i play so many sports that i put about 200 on gas a week for a H2 hummer. but just the other day i just seen that it went up a little hope it goes down. if there is more gas then what we need then the price is going to be low and if there is not alot of gas then the price is going to be high
ReplyDeleteIm glad that the prices were going down when this article was posted, but now the gas prices are starting to get ridiculous again.. :(
ReplyDeleteBecause there is such great demand and such little supply, gas prices tend to increase. I'm surprised it doesn't cost more.
ReplyDeleteit has alot to do with it cause it costs money
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