How long do you think it will take for U.S. gasoline demand to shed the influence...

How long do you think it will take for U.S. gasoline demand to shed the influence of COVID-19? Explain.

Expert Solution

The global declilned demand for the fuel and crued oil you are witnessing is due to the global recession. as a natural resource the supply of crude oil can't be curtailed and due to greater supply the prices are way lower than expected.

due to COVID-19 impact various airlines have been suspended till further notice and as a result the high consuming sector for the resource has impacted the demand.

In 2019, about 142.23 billion gallons (or about 3.39 billion barrels) of finished motor gasoline were consumed in the United States, an average of about 389.68 million gallons (or about 9.28 million barrels) per day.

(source -delloitte report)

as per BBC news - That, together with the collapse in demand for oil amid the coronavirus pandemic, help to push oil prices to 18-year lows by the end of March.

in a recent news - gulf countries agreed to cut the oil production by 1/5th

after studying the above data we can conclude we are in a long fight and the situation will get normal after the proper vaccination of COVID-19 and after that the situation won't get normal all of a sudden because airlines would operate with a limited area and under restrictive observations.

therefore it will take probably somewhere around one and a half year to get the situation normal

Rahul Sunny answered 7 months ago

How do you think recessions influence elections?

What factors do you think might influence which policy alternative is adopted? How do you think...

What factors do you think might influence which policy alternative is adopted? How do you think policy implementation happens?

How much influence into the 'troubled young celebrity' do you all think is brought on by...

How much influence into the 'troubled young celebrity' do you all think is brought on by being in the public eye so early? Would these celebs have different personality traits had they lived 'normal' lives? What effect does fame play in the formation of acting out behavior?

answer the question: How do nurse managers and leaders influence quality care? Do you think a...

answer the question: How do nurse managers and leaders influence quality care? Do you think a nurse can make an impact on the quality of care and how?

What do you think about John's comment on gasoline price?

Use the economics concepts learned in Chapter one to answer the following questions:(Note: Some economics concepts you may consider -- opportunity cost, law of demand and supply, preferences, price of alternative products, budget, etc)Maya and John are a couple that have been married for three years, they have been living in an apartment for the past four years in Encino. On an ordinary sunny morning, Maya finds a flat tire on her Corolla. Panicked, she wakes up John and takes...

What is agenda-setting? How does the media influence agenda-setting? Do you think this influence has had...

What is agenda-setting? How does the media influence agenda-setting? Do you think this influence has had a positive or negative impact on the policymaking process? Why? Please provide examples to support your position.

How do you think this economic crisis will affect society in the long-term?  What do you...

How do you think this economic crisis will affect society in the long-term?  What do you think we as a nation have learned from the 2008-2009 financial crisis?

1.What do you think is the primary reason people take on contingent positions? How do you...

1.What do you think is the primary reason people take on contingent positions? How do you think contingency workers ensure they have a steady flow of income. 2. What is the best way for a health care team to address a committee member who is a skilled health care provider but is not a good team player( the person does not participate, completes tasks, or communicate)? What steps would you take if you found yourself on a task force or...

Do you think that U.S. society can eliminate poverty? To what extent do you think this...

Do you think that U.S. society can eliminate poverty? To what extent do you think this outcome is likely?

What do you think about Maya's plan to reduce their budget on gasoline?