Research Paper on Why Are Gas Prices High

Everyone has been wondering why are the prices of gas are so high in the US and there is a lot of reasons why it’s so high right now. Production is one of the reasons why it is so high and oil companies want to charge more for more profit too.

But what can we do to reduce the cost of gas?. One thing off the bat we can do is if gas prices are still high download apps on your phone join a rewards program, use discounted gift cards, or only fill up when you have to. Some people just want the actual price to go down. On NBC Connecticut By Julia Skrobak Sen Richard Blumenthal has written a letter to Joe Biden saying to use any tools he can use to lower the price of gas in the US which can possibly help the price of gas to decrease. 

The website Reuters president Joe Biden has said he was doing everything he can to reduce the price of gas he says the oil companies aren’t drilling enough oil as they should be he is doing everything he can to have oil companies drill more oil. Lots of people in my family have always complained about the price of gas some people in my family just stay home and choose not to go out because of the price of gas. Many people in the Us choose to just stay home rather than go out and have a good time because they’re worried they won’t have enough money for gas or they want to save money on gas. Since there are a lot of people who drive and use the equipment there is a big supply and demand. Lots of this is also from oil companies charging insane prices for gas because in lots of ways companies need gas workers construction workers and more who depend on gas and fuel and without that the world can go bad very quickly. I watched a video in 7th-grade history and it was a video of the world without oil and showed what the world can turn into within a matter of a couple of days and if we’re running low on the supply of oil then we need to do everything we can to prevent that from happening. Lots of studies show that covid has a part of this but there’s nothing we can do to 100% stop it until people vaccinate and stay away from each other but nobody’s gonna do that and many stores will be closed from that. Another thing is oil companies charging insane prices for oil and we rely on oil really bad it all depends on the supply and demand of oil and the price oil companies charge for oil. 

Some studies show that some people are fine with the price of gas people sometimes don't care that much about how much they pay at the pump. Some people think they get greater fuel economy. In the article (Do gas prices really matter CSMonitor.com). No matter how much Americans spend on fuel, it still represents only a small percentage of their overall outlays, the analysis found. 

Over the past 25 years, it represents around 5 percent of spending in the average U.S.household. This means some people won’t enjoy there self as much as buying clothes or going to have a good time because driving somewhere is more important than buying stuff you don't really need because people need gas to use things and to get places. 

We still should lower the price of gas because paying that much at the pump is crazy though and people have families and bills to pay rather than spending it all on gas studies show that people are in happier moods and people have more money to enjoy their selves that’s a reason to lower the price of gas. 

If we made a policy to where the price of gas won’t go over $3.00 a gallon then there will be a lot of benefits to this. People will have a higher budget for other things they need or want, people will be in a happier mood because there not spend all of their money on gas, people would not go and look around looking for fuel-efficient cars and spending thousands of dollars on trying to save fuel. More people in the US should make their argument on why the price of gas should not reach over $3.00 a gallon no matter what there’s gonna be at least one person in the US that complain still on the price of gas and in addition to that I think a lot more people will be happier if the price of gas would stay under $3.00 a gallon. The US needs gas and if we don't have gas then the US won’t function president Biden said he Is trying everything he can to decrease the price of gas but I think he can do better and should make the price of gas a law to make it under $3.00 a gallon. That’s what should be right and make it a law for the price of gas to not go over $3.00 a gallon people would be happier, have more money, enjoy their selves, and people in the US would save at least 22% more money at the pump and nobody would be losing out on money oil companies still get paid a lot of money people will save a lot of money it would be the best of both worlds to end high gas prices and still have oil companies make good money.