Why gas prices are so high in America Speech or Presentation

Why gas prices are so high in America - Speech or Presentation Example The rising fuel cost has compelled people to drive less. The rise in the prices of gas has resulted in a change in the American life style. (Keen and Overberg) The price rise resulted in a trade deficit in the country as it rose to 15 percent in January 2011. (U.S. trade deficit rose 15% in January on higher oil prices) Texas the second largest state in US experienced a steady rise in the gas prices. The latest data available shows that in the year 2011 the oil price in the state of Texas showed a slow but decreasing trend, where the retail gasoline price has changed from $3.727 per gallon on the 23rd of May 2011 to $3.589 per gallon on 6th June 2011. But considering the same month last year that is in 2010, the gas price has increased by 0.976 dollar per gallon. Houston the largest city of Texas has also experienced an escalation in the price of gas by 1.023 per gallon in 2011 from that of the previous year. (Retail Gasoline Historical prices)