Introduction
The unrest that started in Egypt has spread to Libya causing well-founded fears of possible disruption in oil supplies. The price of gasoline increased over the last week to a national average of $3.51 per gallon. The falling of the prices of crude oil over $100 per barrel for the second time in history makes the analysts say that pump prices are likely to head higher. The Americans are currently paying 34 cents more per gallon of gas compared to when Libya crisis started. It is an increase of approximately 11 percent (McEachern, 2013). This paper analyzes the demand Continue reading...