Gasoline Price Discussion Board

Gasoline Price Discussion Board

Gasoline prices have and will continue to be a major topic in the economy, were front-page news in Texas following Hurricane Harvey in August & September 2017, and again are making news during the COVID-19 pandemic. . -What has happened to the price of gasoline over the past 12 months? . -Discuss the recent changes in price from a supply and demand standpoint, and describe what most likely happened on the supply and demand graph for the gasoline market. . -Was the hurricane actually responsible for a gasoline shortage and the increase in gas prices in Texas in 2017, and were the price increases due to shifting demand, shifting supply, or both? . -How has COVID-19 affected the market for gasoline?   Which of the main influences of supply and demand do you think were responsible for the price changes? (See textbook pages 88-89 and 95-96)