How Gas Prices are Determined

We’re all familiar with how gas prices fluctuate every now and then. One day it’s cheap and the next it’s high but what’s the reason behind it? This infographic will explain the reasons and how prices are determined.

Courtesy of visual.ly

 

This year, the gas prices will set a new record high with prices claiming to hit $5 to $6 per gallon by summer. If that happens, you can say goodbye to frequent beach visits unless you live pretty close to it. A way to survive the gas price hike would be to purchase a gas friendly car, like a hybrid, or buy a moped as it gets you close to 100 mpg, although its speed isn’t that great but that wouldn’t matter when you’ll be saving money.

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