Explain in detail the main reasons (at least three reasons) for the recent (past three weeks’) spike in the domestic price of gasoline in U.S.

Explain in detail the main reasons (at least three reasons) for the recent (past three weeks’) spike in the domestic price of gasoline in U.S. Explain and indicate, the causes of this price hike with the aid of a well-labeled market model of Chapter 3 of the course textbook.

INSTRUCTION(S):

(1) With the aid of a large, well-labeled diagram, explain in detail, the cause(s) of gasoline price hike in U.S. in the past three weeks to a month (essay without diagram(s) will be scored zero).Be sure to address the diagram in your essay

(3) Limit the length of your written essay to a minimum of two (2) and a maximum of three (3) typed, double spaced pages.

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