Gasoline Prices

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Gasoline prices have been and will continue to be a major topic in the economic news, and were front-page news in Texas following Hurricane Harvey.

-What has happened to the price of gasoline over the past 3 months?

Gas prices continued to soars more than $17.5 cent, many refineries remained closed, and gas stations shut down their pumps due to gas shortages from the refineries. Nearly half of the U.S. refining capacity are from the gulf coast region causing the national gas prices to be affected.

-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.

Gas prices rose due to the high demand and low commodity of fuel. This

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