Gasoline prices have been and will continue to be a major issue for the economy. From the start of the Covid-19 pandemic up to the present day, gasoline prices have been in the news.

-What has happened to the price of gasoline over the past 12 months? Be specific and include actual prices in your answer.

-Discuss the recent changes in price from a supply and demand standpoint. Have the price changes been due to a change in supply, a change in demand, or both? Explain your answer.

-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.) Be specific and explain why and how the "main influences" you chose had an impact on the gasoline market.

-What do you think has been the reason(s) for the very large increase in gasoline prices over the past 6-8 weeks?