This high demand usually translates into higher gasoline prices. Cleaner-burning summer-grade fuels, which are more expensive to produce, can increase the price as well, Price increases generally occur when the world crude-oil market tightens and lowers inventories. We will discuss who controls the crude-oil market later.
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auto.howstuffworks.com/fuel-efficiency/fuel-consumption...
auto.howstuffworks.com/fuel-efficiency/fuel-consumption/gas-price.htm
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For instance, the people who waited in the 1970s gas lines probably shouldered as much cost from the lost time queuing as they saved from the price controls on gasoline.
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www.cato.org/dailys/06-20-01.html
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Both economic theory and past experience suggest that aggressive price controls and windfall profits taxes will harm consumers by creating fuel shortages and reducing investment in new supply. The Economic Anatomy of Gasoline Prices;
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www.cato.org/pubs/gasoline_price_controls.pdf
www.cato.org/pubs/gasoline_price_controls.pdf
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and in recent years, governments in the United States have fixed the price of gasoline, the rent on apartments in New York City, and the wage of unskilled labor, to name a few. The appeal of price controls is understandable. Even though they fail to protect many consumers and hurt others, controls hold out the promise...
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www.econlib.org/library/Enc/PriceControls.html
www.econlib.org/library/Enc/PriceControls.html
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Economic ignorance, misconceptions and superstition drive us toward totalitarianism because they make us more willing to hand over greater control of our lives to politicians. That results in a diminution of our liberties. Think back to the gasoline price controls during the 1970s.
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www.capmag.com/article.asp?ID=4492
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Surging gas prices have Americans favoring the imposition of price controls on gasoline by a 53% to 45% margin, even as 79% oppose the gas rationing that...
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www.gallup.com/poll/107542/majority-americans-support-p...
www.gallup.com/poll/107542/majority-americans-support-price-controls-gas.aspx
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Richard Nixon had imposed price controls on domestic oil, which had helped cause shortages that led to gasoline lines during the 1973 Oil Crisis.
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en.wikipedia.org/wiki/1979_energy_crisis
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Hawaii is about to scrap its effort to legislate away high gasoline prices, Even the state senator who led the drive to institute the cap last year has endorsed the idea of suspending the cap indefinitely, though he has also proposed modifying the price controls so they would only kick in under certain conditions.
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www.nysun.com/article/30064
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The U.S. experience with gasoline price controls in the 1970s confirms the predictions of economic reasoning. In 1971, gasoline prices were regulated as part of the Nixon Administration's two-year adoption of economy-wide wage and price controls.
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www.ftc.gov/be/v030005.shtm
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