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Table Of Contents

I. PHOENIX: A STORY OF SUPPLY, DEMAND, AND COMPETITION
A. Phoenix and Other Parts of Arizona Rely on Pipeline Deliveries for Gasoline
D. Complicating Factors
E. Resolution of the Pipeline Problem
I. INTRODUCTION
B. The World Market for Crude Oil Influences Gasoline Prices in the U.S
E. Crude Supply from Countries Other than OPEC Members Has Increased
F. OPEC’s Actions Have Had a Large Effect on Crude Oil Prices
III. DETERMINANTS OF CRUDE OIL PRICES FOR U.S. REFINERS
B. World and Domestic Crude Prices Are Linked
1. Crude oil demand
a. Demand for crude oil has fluctuated over the past 30 years
2. Crude oil supply
b. Worldwide concentration in crude oil production is low
3. Trends in crude oil prices
IV. THE STORY OF 2004 AND A LOOK AT 2005
B. Certain Events in 2004 Disrupted the Production and Supply of Crude Oil
1. Supply disruptions in Iraq
2. Gulf Coast hurricanes
3. Workers in Norway
1. An uncertain geopolitical outlook in 2004
1. OPEC increased production
A. The Costs of Supplying Gasoline to Consumers
B. Crude Oil Is Generally the Largest Component of the Retail Price of Gasoline
D. Year-by-Year Percentage Price Changes from 1979 through 2004
E. Price Trends for 2005
b. Changes in inventory strategies have reduced refinery costs
3. U.S. refineries have high rates of capacity utilization
C. Imports of Gasoline into the U.S. Have Risen over the Past Decade
A. Profits Play Necessary and Important Roles in a Market Economy
A. Access to Refineries Can Affect Gasoline Prices
B. Access to Refined Product Pipelines Can Affect Gasoline Prices
C. Boutique Fuel Requirements Can Affect Gasoline Prices
1. Low inventory levels
A. Regions in the U.S. Differ in the Amount of Gasoline Consumed
5. Conclusion
I. LOCAL FACTORS CAN AFFECT RETAIL GASOLINE PRICES
2. Retail gasoline sales reflect four important national trends
C. Government Regulations Can Affect Retail Gasoline Prices
A. Terminaling – Storage of Bulk Supplies of Refined Petroleum Products
B. Wholesaling
A. Vertical Integration May Be Cost-Effective for a Firm
1. Reduce transactions costs
2. Prevent opportunism by contractual partners
3. Eliminate double markups
4. Eliminate distortions of input choices
B. Potential Anticompetitive Effects of Vertical Integration
1. Raise rivals’ costs
2. Evade price regulation
U.S. Gasoline Industry Has Decreased
. MARKETING PRACTICES
A. Zone Pricing
B. Territorial Restrictions
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050705 Gas Prices Rpt

050705 Gas Prices Rpt

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Published by Royal Heart

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Published by: Royal Heart on Dec 21, 2011
Copyright:Attribution Non-commercial

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12/21/2011

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