Turmoil in oil countries hits Americans in their wallets.

• Position: Graph Exercise

News about Iraq, the Arab-Israeli confrontation, strikes in Venezuela, and wars in West Africa all take their toll on Americans in a very down-to-earth fashion. Virtually every time conflict erupts in oil-producing areas, it means that Americans have to dig deeper to pay more for the privilege of driving to work and the supermarket, to take a vacation, or to head out on the highway to visit family. The data in this graph show just how volatile gasoline prices have been between early July 2000 and early January of this year. All those blips and dips are more than arcane readings on a graph. They show in real terms what Americans must pay to transport themselves and their families as they go about their daily business.

Source: U.S. Energy Information Administration.

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1. About how much did retail gasoline prices per gallon rise between January 3, 2002, and January 3, 2003?

   (a) 35 cents (b) 70 cents (c) 60 cents (d) 50 cents.

2. What was the approximate difference between the price of gasoline on Jan. 3, 2001, and the price on July 3, 2000?

   (a) 20 cents (b) 15 cents (c) 30 cents (d) 35 cents.

3. In which three months of which year did retail gasoline prices hit their highest level? 4. The sharpest rise in gasoline prices occurred in the month of--in year --. This increase turned into a sharp decline in the month of -- in the year --.

5. Economists say political instability in oil-producing nations tends to push petroleum prices up. One example: recent anti-government strikes in Venezuela, a major oil producer, have pushed average retail prices up about -- cents a gallon between December 2002 and January 2003. (even number)

6. Whatever the world's political climate, gasoline prices usually tend to rise during the summer months, when millions of Americans take to the road for their annual vacations. But the data on this graph show a deviation from the usual...