Gas prices increase as the price of crude oil, needed to produce petroleum, increases. Crude oil prices are affected by supply relative to both the actual and expected demand for petroleum products.
There are several websites that allow users to look up prices at nearby gas stations, including GasBuddy.com, Automotive.com, GasPriceWatch.com and AutoBlog.com. GasBuddy.com has a convenient app for use on mobile devices. Most of these sites rely on members to update the information, so users shoul
Natural gas is priced in accordance with the market supply and demand factors. The three most important factors that affect the price include the amount of gas being purchased, the transportation cost and the amount of processing required to prepare the gas according to the buyer’s needs.
Gasoline retailers set the gas price at the pump; however, many of the factors are beyond their control, such as the market price of crude oil, distribution interruptions, the work of speculators, the value of the dollar and taxes. Refining and composition requirements also contribute.
Historical gas prices can be viewed by state for the years 1983 through March 2011 on the website of the U.S. Energy Information Administration. The data includes average monthly and annual gas retail prices for every state excluding taxes and is organized by grade and formulation.
Futures prices for natural gas vary from day to day and are also based on the delivery date of the contract. Natural gas futures trade at the New York Mercantile Exchange. Futures prices listed on indexes and real time quotes use the unit dollars per million British thermal units.
Gas is like every other product with a supply and demand, and there are several groups responsible for setting the price. Gas stations usually add on a few cents, sometimes more, per gallon.
While most of the price fluctuations at the gas pump are tied to the price of crude oil, other factors, including supply and demand changes, commodity speculation, regulatory changes and weather, also play a role. However, these effects are not always immediate, and may take months to affect gas pri
The primary driver of natural gas prices is a spike in demand when available supplies are low. For instance, natural gas use peaks over the winter due to its use as a heating fuel. Weather and refining capacity problems can also lead to short-term increases in natural gas prices.
The United States Energy Information Administration shows that the price of gas is determined by the price of oil and its associated global supply and demand. Taxes, refinery costs and exchange rates also have effects, notes Investopedia.