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Why You Pay What You Pay At The Pump, Jason Orne

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates several factors that strongly influence the day to day consumer price of Gasoline in America. This study incorporates existing information on the most likely variables that should influence gasoline prices from the beginning of 2006 to the very end of 2009. The study looks at contributing factors that include the average price of gasoline from the week before (pennies per gallon), the current weeks average oil price (Dollars per barrel), the previous weeks average oil price (Dollars per barrel), and the US production, and consumption of gasoline (1000 barrels per day). Using macro-level data from the US …