Cost of Gas Rises 18 Cents in the Past Two Weeks by Pierson - Article Example

The normal gasoline price in America leaped by eighteen cents a gallon in the last fortnight because of the increasing crude oil prices and associated worry about the Middle East tensions. Nevertheless, there are many sources that can supply fuel in the country; this is according to the Countrywide Lundberg Survey. According to the editor of the survey, Trilby Lundberg, the concern is mainly surrounding the Iran nuclear program and the likelihood that it will prevent distribution in the Strait of Hormuz if the country’s nuclear hubs are invaded by Israel (Pierson 1).

If these Middle East tensions continue to persist, the prices of gasoline will continue to rise. Whatever the case may be, the cost of gas in the U.S is expected to increase by some cents per gallon because the previous increase in crude oil prices had not reached the gas stations.Moral IssueThe increase in gasoline prices is viewed by most people as price gouging. Oil suppliers use the Middle East tensions as an excuse to increase the prices. Many gasoline dealers stockpile gasoline in anticipation of the tensions affecting the supply of fuel.

As costs increase, people are forced to restrict their gasoline use. The government should establish measures to curb the rising cost of fuel despite the concerns in the Middle East. This will promote a favorable business environment for both producers and consumers.