Case Study #2 Example | Topics and Well Written Essays - 1250 words

2 - Case Study ExampleGasoline is most commonly used as a fuel in vehicles which makes it one of the most important commodities in human life today. unrivalled of the characteristics of a necessary item is that its expense should stay within the affordable limits of the general public, so that they argon not deprived from its usage under any circumstances. But, gasoline price is found not to vex to this rule and had often been subjected to wide variations, a consequence of similar variations in crude oil prices. The impact of much(prenominal) price movements is more intensely felt in the Western economies where almost every household owns a car. The following diagram is evidence of the wide fluctuations in gasoline prices in USA over cinque years (2004-2008).In fact, the mean and standard deviations of the gasoline prices, which are 251.38 (cents per gallon) and 62.15, over the five year dyad being considered, are also evident of wide variations in the same.The present study t ries to investigate the causes and make of wide fluctuations in gasoline prices in context of the US economy. USA being one of the highest gross domestic product earning nation in the world and also the one with the highest per capita income, is a good ground for the study since oil has become more like a mode of daily life for the Americans. Hence, any fluctuations in the price level of the same, will have a widespread impact on the lifestyle of the nationals. The research emergence will help the residents of the country to get more aware of the possible impact of a lift oil price and thus they will be in a position to anticipate in front how they might be affected when subjected to such price fluctuations, and thus shield themselves accordingly.The fluctuations in oil prices and and so that of gasoline could be owed to a large proportion of oil being produced in the Middle easternmost nations which, having formed an organization in themselves (OPEC) enjoy almost a monopoly p ower over the price movements of the