Whats Up With These Gas Prices?

How many times have Americans been angry for the rising gas prices? I can’t really statically answer that, but I do know we as Americans have experienced this madness of gas rising. It has affected us as an economy as a whole. Jobs have been closed, and downsized. Organizations that service customers with their vehicles have been hit harder than other organizations. Organizations such as school districts who use fuel for their buses have been affected causing the company to plan strategically on the use of their buses. It cost a at least a $100,000.00 to run a school bus for trips and routes. Airline prices are another organization that has been affected by the rising gas prices. People travel less now because the cost of traveling is greater than ever before.  High fuel prices in my opinion play with the economy’s emotions. Gas stations such as Chevron, 76 Gas, Mobil, Valero, Exxon, and so on have been at their most highs in the last five years. Gas today averages out in California about $4.09 for regular and $4.19 for the super in most areas. You have exceptions that the gas is still extra high in certain upper class cities. However, in March of 2010, gas prices went down in California with the regular unleaded gas being $3.05. Around the United States in March of 2010 regular gas was $2.75, and fuel was $2.90. When can we see these kinds of prices again? What do people think of the rise of gas? <High Gas Prices>.  

People have their preferences of which gas station may save them a little more money. The off brand gas stations have the nerve to be running neck and neck with the brand name gas stations. I can’t believe this. You would think the off brand gas stations would be smart enough to make their prices a little more competitive. I’ve decided to check out Exxon Mobil Gas financial statement of cash flow from the state of New York to see how much money they had made annually in the last three years. I discovered Exxon Mobil’s cash flow in 2008 net income in U.S. dollars was $45,220.00 million, 2009- 19,280.00 million, and 2010- $30,460.00 million. As you can see in 2009 Exxon Mobile suffered a big loss of money. However, Exxon Mobil’s cash from operations in 2008 was $59,725 million, 2009- $28,438.00 million, and $48, 413.00 million.  I also decided to look at their total revenues for the last three years and I discovered Exxon Mobil’s biggest loss of revenues at the end of the fiscal year in December was again in 2009 with the earning of only $277,019. At the end of December of 2010 Mobil increased their revenues by over $66 million U.S. dollars in one year. All of this money made by fuel companies is due to the rise of gas and fuel. I know people are tired of being robbed and there has to be a better solution. If you know let me know. Do you wish you could change the prices yourself? Well, this news reporter tried!

references:

References: Income statement: Bloomberg Business Week. (2011). Exxon Mobil Corp. (XOM: New York)

http://investing.businessweek.com/businessweek/research/stocks/financials/financials.asp?ticker=XOM:US&dataset=incomeStatement&period=A&currency=native

Cash flow statement: Bloomberg Business Week. (2011). Exxon Mobil Corp. (New York).

http://investing.businessweek.com/businessweek/research/stocks/financials/financials.asp?ticker=XOM:US&dataset=cashFlow&period=A&currency=native

 

 http://www.youtube.com/watch?v=O1l9RX2bAlE