What is the cost of regular unleaded fuel in your town? What are some contributi

Question

What is the cost of regular unleaded fuel in your town? What are some contributing demand and supply factors to the differences in fuel prices around the country?
Think of an externality in your community. Explain what type of externality it is. How can it be resolved (through the market and/or through government policies)?

What is the cost of regular unleaded fuel in your town? What are some contributing demand and supply factors to the differences in fuel prices around the country?
Think of an externality in your community. Explain what type of externality it is. How can it be resolved (through the market and/or through government policies)?

Explanation / Answer

The cost of unregulated fuel is around $2.65. The contributing factors to the differences in the fuel prices around the country are Local state taxes on fuel. federal duty on fuel, different transportation costs in different states. Population in the states also contribute to the difference in the fuel prices around the country.

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