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655-705 Level|   Inference|      
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sasyaharry
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Gasoline retail prices are directly proportional to the price of ... 24 Oct 2017, 08:48
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Gasoline retail prices are directly proportional to the price of crude oil per barrel. Last week, gasoline prices averaged $3.24 per gallon. On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history, the average retail price of gasoline was $3.13 per gallon.

Which of the following must be true if the information above is true?

A) Crude Oil Price last week per barrel was at least $100.
B) Crude Oil prices today are higher than what they were on February 21, 2008.
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
D) Price of gasoline per gallon was higher last week than the week before
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.
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A
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Gasoline retail prices are directly proportional to the price of ... 24 Oct 2017, 09:32
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Correct answer is A.
B: no information for today's price
C: there might be more than 2 instances... So incorrect
D: no info regarding the week before the last week
E: can't be inferred from the stimulus
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Gasoline retail prices are directly proportional to the price of ... 26 Oct 2017, 06:50
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But the premises states that "On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history". So how can Crude Oil Price last week per barrel was at least $100?
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Gasoline retail prices are directly proportional to the price of ... 26 Oct 2017, 07:19
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But the premises states that "On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history". So how can Crude Oil Price last week per barrel was at least $100?
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hi..

It is given that gasoline prices are DIRECTLY proportional to crude oil price per barrel..

In 2008, the the average retail price of gasoline was $3.13 per gallon meant the "crude oil price per barrel touched triple digits($) for the first time in history".
But last week the average price was HIGHER than even 3.13, so the crude oil price would be higher than that in 2008 THAT is atleast 100..
so A is correct

hope it helps
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Gasoline retail prices are directly proportional to the price of ... 26 Oct 2017, 12:34
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Gasoline retail prices are directly proportional to the price of crude oil per barrel. Last week, gasoline prices averaged $3.24 per gallon. On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history, the average retail price of gasoline was $3.13 per gallon.

Which of the following must be true if the information above is true?

A) Crude Oil Price last week per barrel was at least $100.
B) Crude Oil prices today are higher than what they were on February 21, 2008.
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
D) Price of gasoline per gallon was higher last week than the week before
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.

How do we eliminate option B?
A and B both can be inferred from the passage.

A is directly inferable from the passage. However, since the prices of oil are directly proportional to those of gasoline, the price last week of crude oil should be greater than the price on 21 Feb 2008 since the price of gasoline last week is greater than the price of gasoline on 28 Feb 2008.

Please throw some light!
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Gasoline retail prices are directly proportional to the price of ... 26 Oct 2017, 14:05
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gmatexam439
Gasoline retail prices are directly proportional to the price of crude oil per barrel. Last week, gasoline prices averaged $3.24 per gallon. On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history, the average retail price of gasoline was $3.13 per gallon.

Which of the following must be true if the information above is true?

A) Crude Oil Price last week per barrel was at least $100.
B) Crude Oil prices today are higher than what they were on February 21, 2008.
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
D) Price of gasoline per gallon was higher last week than the week before
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.

How do we eliminate option B?
A and B both can be inferred from the passage.

A is directly inferable from the passage. However, since the prices of oil are directly proportional to those of gasoline, the price last week of crude oil should be greater than the price on 21 Feb 2008 since the price of gasoline last week is greater than the price of gasoline on 28 Feb 2008.

Please throw some light!
Regards
Show more

This is a must be true question. How can we infer anything about the price of gasoline today? Must it be true that gasoline prices today are greater than they were on Feb 21, 2008? Can the price today not be lower or equal? Since there is reasonable doubt, answer choice B cannot be the correct answer.
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Gasoline retail prices are directly proportional to the price of ... 26 Oct 2017, 14:15
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sasyaharry
gmatexam439
Gasoline retail prices are directly proportional to the price of crude oil per barrel. Last week, gasoline prices averaged $3.24 per gallon. On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history, the average retail price of gasoline was $3.13 per gallon.

Which of the following must be true if the information above is true?

A) Crude Oil Price last week per barrel was at least $100.
B) Crude Oil prices today are higher than what they were on February 21, 2008.
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
D) Price of gasoline per gallon was higher last week than the week before
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.

How do we eliminate option B?
A and B both can be inferred from the passage.

A is directly inferable from the passage. However, since the prices of oil are directly proportional to those of gasoline, the price last week of crude oil should be greater than the price on 21 Feb 2008 since the price of gasoline last week is greater than the price of gasoline on 28 Feb 2008.

Please throw some light!
Regards

This is a must be true question. How can we infer anything about the price of gasoline today? Must it be true that gasoline prices today are greater than they were on Feb 21, 2008? Can the price today not be lower or equal? Since there is reasonable doubt, answer choice B cannot be the correct answer.
Show more

The crude oil price must be greater than the price in Feb 2008. We have been given a mathematical relationship here that the price of crude oil is directly proportional to that of gasoline. Thus if the price of gasoline increases the price of crude oil also MUST increase.

Any thoughts?
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Gasoline retail prices are directly proportional to the price of ... 26 Oct 2017, 17:59
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gmatexam439
sasyaharry
gmatexam439
Gasoline retail prices are directly proportional to the price of crude oil per barrel. Last week, gasoline prices averaged $3.24 per gallon. On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history, the average retail price of gasoline was $3.13 per gallon.

Which of the following must be true if the information above is true?

A) Crude Oil Price last week per barrel was at least $100.
B) Crude Oil prices today are higher than what they were on February 21, 2008.
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
D) Price of gasoline per gallon was higher last week than the week before
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.

How do we eliminate option B?
A and B both can be inferred from the passage.

A is directly inferable from the passage. However, since the prices of oil are directly proportional to those of gasoline, the price last week of crude oil should be greater than the price on 21 Feb 2008 since the price of gasoline last week is greater than the price of gasoline on 28 Feb 2008.

Please throw some light!
Regards

This is a must be true question. How can we infer anything about the price of gasoline today? Must it be true that gasoline prices today are greater than they were on Feb 21, 2008? Can the price today not be lower or equal? Since there is reasonable doubt, answer choice B cannot be the correct answer.

The crude oil price must be greater than the price in Feb 2008. We have been given a mathematical relationship here that the price of crude oil is directly proportional to that of gasoline. Thus if the price of gasoline increases the price of crude oil also MUST increase.

Any thoughts?
Show more

Wait, wasn't your question about eliminating choice B? If yes, then didn't my earlier explanation help? Again, last week the price of gasoline was at least 100, maybe more but today, nobody knows.
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Gasoline retail prices are directly proportional to the price of ... 27 Oct 2017, 02:05
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sasyaharry

Wait, wasn't your question about eliminating choice B? If yes, then didn't my earlier explanation help? Again, last week the price of gasoline was at least 100, maybe more but today, nobody knows.
Show more

Yes, but if I can infer information present in both the options -A & B- then how can i eliminate either of them.

Again I will repeat, prices are directly correlated --> this means that if the gasoline's price increases then price of oil HAS TO increase.

Let's take a look at the information given in the passage in a better way below:
gas price feb 2008 -->3.13
gas price last week --> 3.24 --------> THERE IS AN INCREASE (NO MATTER HOW SMALL, BUT THERE IS AN INCREASE)

oil price 2008 ---> atleast 100
oil price last week ---> will be atleast 100 BUT GREATER THAN THE VALUE IN FEB SINCE THERE IS AN INCREASE IN GAS PRICE.

Thus both A and B can be inferred. We need not know the exact oil prices in order to infer the information present in option B.

Any further thoughts?
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Gasoline retail prices are directly proportional to the price of ... 27 Oct 2017, 09:43
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gmatexam439
sasyaharry

Wait, wasn't your question about eliminating choice B? If yes, then didn't my earlier explanation help? Again, last week the price of gasoline was at least 100, maybe more but today, nobody knows.

Yes, but if I can infer information present in both the options -A & B- then how can i eliminate either of them.

Again I will repeat, prices are directly correlated --> this means that if the gasoline's price increases then price of oil HAS TO increase.

Let's take a look at the information given in the passage in a better way below:
gas price feb 2008 -->3.13
gas price last week --> 3.24 --------> THERE IS AN INCREASE (NO MATTER HOW SMALL, BUT THERE IS AN INCREASE)

oil price 2008 ---> atleast 100
oil price last week ---> will be atleast 100 BUT GREATER THAN THE VALUE IN FEB SINCE THERE IS AN INCREASE IN GAS PRICE.

Thus both A and B can be inferred. We need not know the exact oil prices in order to infer the information present in option B.

Any further thoughts?
Show more

We are now officially beating around the bush.

There is nothing in the passage that can help you infer the price of oil price today. I agree that last week it was at least $100 but how did you infer that oil price today is higher than Feb 21, 2008?????
There could have been a 10% drop in oil price before market opened today and this new price is below the price of Feb 21, 2008. How do you know the oil price today?
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Gasoline retail prices are directly proportional to the price of ... 27 Oct 2017, 10:45
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gmatexam439
sasyaharry

Wait, wasn't your question about eliminating choice B? If yes, then didn't my earlier explanation help? Again, last week the price of gasoline was at least 100, maybe more but today, nobody knows.

Yes, but if I can infer information present in both the options -A & B- then how can i eliminate either of them.

Again I will repeat, prices are directly correlated --> this means that if the gasoline's price increases then price of oil HAS TO increase.

Let's take a look at the information given in the passage in a better way below:
gas price feb 2008 -->3.13
gas price last week --> 3.24 --------> THERE IS AN INCREASE (NO MATTER HOW SMALL, BUT THERE IS AN INCREASE)

oil price 2008 ---> atleast 100
oil price last week ---> will be atleast 100 BUT GREATER THAN THE VALUE IN FEB SINCE THERE IS AN INCREASE IN GAS PRICE.

Thus both A and B can be inferred. We need not know the exact oil prices in order to infer the information present in option B.

Any further thoughts?

We are now officially beating around the bush.

There is nothing in the passage that can help you infer the price of oil price today. I agree that last week it was at least $100 but how did you infer that oil price today is higher than Feb 21, 2008?????
There could have been a 10% drop in oil price before market opened today and this new price is below the price of Feb 21, 2008. How do you know the oil price today?
Show more

Damn!!! I am really sorry. Untill now i read the option B wrongly. I was thinking that the option is talking about the "last week" price of oil !!!!!!!!!!!!!!!!!!!!!
Its a straight NO for B!!

Regards
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Gasoline retail prices are directly proportional to the price of ... 04 Nov 2017, 06:10
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gmatexam439


Damn!!! I am really sorry. Untill now i read the option B wrongly. I was thinking that the option is talking about the "last week" price of oil !!!!!!!!!!!!!!!!!!!!!
Its a straight NO for B!!

Regards
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Great inference question. I, too, thought A and B were both provable until I re-read the question. Glad you caught your mistake, gmatexam439!
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Gasoline retail prices are directly proportional to the price of ... 04 Nov 2017, 07:46
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gmatexam439


Damn!!! I am really sorry. Untill now i read the option B wrongly. I was thinking that the option is talking about the "last week" price of oil !!!!!!!!!!!!!!!!!!!!!
Its a straight NO for B!!

Regards

Great inference question. I, too, thought A and B were both provable until I re-read the question. Glad you caught your mistake, gmatexam439!
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Yea. A really good question indeed brother !!
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Gasoline retail prices are directly proportional to the price of ... 02 Jun 2019, 06:49
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Paragraph states Last week gasoline prices averaged $3.24 per gallon ( higher than a price decade ago).
Can we not have case in which through the week Crude Oil Price was not $100.

For eg,
Sunday $95
Monday to Saturday $200
Please notice average here.

Bunuel Thank you for giving me link to an active post.
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Gasoline retail prices are directly proportional to the price of ... 05 Jun 2019, 00:12
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sasyaharry
Gasoline retail prices are directly proportional to the price of crude oil per barrel. Last week, gasoline prices averaged $3.24 per gallon. On February 21, 2008, when crude oil price per barrel touched triple digits($) for the first time in history, the average retail price of gasoline was $3.13 per gallon.

Which of the following must be true if the information above is true?

A) Crude Oil Price last week per barrel was at least $100.
B) Crude Oil prices today are higher than what they were on February 21, 2008.
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
D) Price of gasoline per gallon was higher last week than the week before
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.
Show more

akash7gupta11

Quote:

Can we not have case in which through the week Crude Oil Price was not $100.

For eg,

Sunday $95

Monday to Saturday $200
Show more

Note that if the price is different every day, how can you talk about "crude oil price last week?" In that case, you will talk about the average price through the week. As long as that average is more than 100, it is fine.
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Gasoline retail prices are directly proportional to the price of ... 05 Jun 2019, 19:35
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What is the source of this question? It's a solid one.
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To determine which statement must be true based on the information given, let's analyze the key points:

Gasoline prices are directly proportional to crude oil prices.
Last week, gasoline prices averaged $3.24 per gallon.
On February 21, 2008, when crude oil prices first hit $100 per barrel, gasoline prices averaged $3.13 per gallon.

Let's evaluate each option:

Quote:
A) Crude Oil Price last week per barrel was at least $100.
Show more
Given the direct proportionality, if the gasoline price was higher last week ($3.24) compared to February 21, 2008 ($3.13), the crude oil price last week must have been at least $100 to maintain the proportional relationship.

Quote:
B) Crude Oil prices today are higher than what they were on February 21, 2008.
Show more
This does not necessarily have to be true, as the statement compares last week's gasoline prices to February 21, 2008, not today's prices.

Quote:
C) There have been only two instances in history when crude oil prices exceeded $100 per barrel.
Show more
This is not supported by the information provided, as it only discusses two specific points in time and makes no claim about the frequency of $100 crude oil prices.

Quote:
D) Price of gasoline per gallon was higher last week than the week before.
Show more
This is not necessarily true based on the information provided, as there is no information about gasoline prices the week before last week.

Quote:
E) Before February 21, 2008, the price of gasoline per gallon was lower than $3.00.
Show more
There is no information provided about gasoline prices before February 21, 2008, so this cannot be concluded.

The option that must be true based on the information given is A, because the higher gasoline price last week indicates that the crude oil price was at least $100 per barrel to maintain the direct proportionality with the February 21, 2008, price point.
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My personal explanation.

A) When gas prices were $3.13 in 2008, the crude oil price was in the triple digits (meaning at least $100). Because last week's prices were $3.24, that means crude oil prices were even higher last week than in 2008 (because directly proportional). This answer must be true as a result.
B) This is a trick answer that many would pick if they don't read carefully. This answer says that TODAY'S crude oil prices are higher than 2008's; however, we don't know anything about today, we only know about last week and 2008.
C) There's no indication of the number of times crude oil has reached triple digit prices anywhere in the passage.
D) We have no information on week by week trends, and know only about 2008 and last week.
E) While it's true that in 2008 fuel barrel prices reached triple digits for the first time, the price of the gas was $3.13, meaning that if let's say fuel prices before then reached a peak of 99.99, the gas price could have been $3.12. This answer choice would be true if in 2008 gas prices peaked at exactly 3$.

Choice A is the correct one.
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