Price Control

Price Control

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  • Our pricing for gasoline keeps getting rising
  • I know right it seems like everyday the price gets higher and higher
  • The price control sets the minimum & maximum of a good. Therefore the price of gasoline depends on supply & demand.
  • The cause was the long lines there was before.  The effect is that there is really long lines & a set price on gas due to price ceiling & a price floor.
  • However everyone needs gas on a daily for their transportation. Even though producers want to sell it at a higher price but consumers want it lower. 
  • I think we should be paying less for gas letting the demand go up when the prices fall but when the prices increases people are not going to be willing to pay making the demand decrease.
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