Natural gas pricing history
Today, gas prices vary greatly depending on the specific city of the United States. The best natural resource in large and popular cities, for example, Los Angeles, where the price per gallon is three dollars. If you were thinking about the questions: “How was this price formed? “, “How did it come to such a division? “, “What affects the increase and decrease in fuel costs? ” – then to your address! We will give you a short tour of natural gas price history and consider this topic in more detail.
The price of gas depends on many factors
In our country, gas prices history by year cannot be fixed, because it depends on the most important thing – oil. In addition, it is affected by: the economic situation, crises and inflation.
- An event that has been heard by many people around the world is the crisis of the 1970s. The Organization of the Arab Oil Exporting Countries has stated that they are no longer dependent on trade on the Great Continent.history natural gas prices data indicate that this conclusion has led to an increase in gas prices in the geometric projection. That’s when they reached an incredible twelve dollars a barrel.
- 1980s. During this time there were changes in the price of natural resources. The unemployment rate rose en masse, which was higher than during the Great Depression. The government has changed, trying its best to rectify the situation. Credit unions and banks will also take part in countries pulled out of the “economic pit”.
- XXI century. In today’s world there were worse situations than in the 70’s and 80’s. The period from 2002 to 2009 was extremely unstable, because it was then that there was a crazy change in pricing policy. People had no confidence the next day. Food prices also rose, and at the same time, the unemployment rate among people increased. The country’s economy was in a critical situation. The maximum gas price was reached relatively recently – in 2012. People were outraged by the fact that gas stations cost more than $ 3.6 per gallon.
- The economic situation in the country is affected by changes in oil prices. That is, if the previous figures increase – it leads to deplorable consequences. For example: the automotive industry suffers, various types of trade, private enterprises, small and medium-sized businesses are closed, and places on the employment exchange are rapidly filling up. You may have noticed, but gasoline has another concept, such as “seasonality”. Yes, a slight change in prices is observed in the summer, which is associated with travel and mass travel, and decreases in winter.
- Over the last three years, gas price history by year has decreased (impressive results have been achieved due to shale gas production). The previous one provided such an excess of natural gas on the market that its producers are now outraged. Colleagues in other countries were also dissatisfied, as their profitability fell to historic lows. There is good reason to believe that the period of ultra-low prices in the gas market will remain unchanged for a long time.