Spring '05
Go to the website that is linked below. Read the information and answer
the following questions on a separate sheet of paper.
1. What percentage of energy consumed does crude oil account for?
2. What are the components of the retail price of gasoline?
3. Looking at the diagram that compares the where the money for a gallon
of gasoline goes, what differences have occurred between 2002 and 2003?
4. Why are California gasoline prices higher and more variable than
others? Explain how supply and/or demand create a higher gasoline price for
Californians.
5. Why do gasoline prices fluctuate? Be sure to explain using some
supply and demand language.
6. Find another source or two, and write 5 interesting facts (complete
sentences please) about the current crude oil prices, supply and demand.
Energy Information Adminstration
http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/pri
Other Resources