In 2017, destruction to U.S. gasoline refineries was caused by back-to-back storms along the U.S. Gulf Coast-Hurricane Harvey and Hurricane Irma In one week, the average price of a gallon of gasoline in the United States increased by about 20 cents. Which of the following best explains why these events pushed up the price of gasoline?

A. The supply curve for gasoline shifted to the right along the demand curve for gasoline.
B. The demand curve for gasoline shifted to the right along the supply curve for gasoline.
C. The supply curve for gasoline shifted to the left along the demand curve for gasoline.
D. The demand curve for gasoline shifted to the left along the supply curve for gasoline.


Answer: C

Economics

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Economics