Why do gas prices fluctuate

Reference no: EM13684667

Why Do Gas Prices Fluctuate?

Gas was selling for $3.95/Gallon on Labor Day Weekend of 2012. At election time, the price was $3.15/Gallon. Now, it is $3.55/Gallon.

What causes increases and decreases in the price of gasoline? Use Demand and Supply curves to illustrate your arguments.

Reference no: EM13684667

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