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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. Cut and paste below your essay at least two (2) news articles from the Wall Street Journal (WSJ) on the above economic issue (gasoline price hike).


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(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).

(2) Copy and paste below your written essay, at least two recent news articles (less than 10 days old) on the causes of the gasoline price hike in U.S. from the Wall Street Journal (WSJ).

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

(4) Upload your essay assignment to the Instructor on FAMU’s Canvas LMS.

(5) This assignment is due on Wednesday, April 14, 2021 at 9:00 AM, ET.

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