Why Are Gas Prices So High?

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Summary: supply and demand, the variable cost in total would be less. THE PRICE OF A BARREL OF GASOLINE The following is a graph of the the price of a barrel of gasoline from 1947 till 2003. The price of a barrel of oil today is less than in the 1970s however the price of a gallon of gasoline is currently higher than in the late 1970s. This is very strange to me and

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