I wanted some additional information on what I have already ... is there more reasoning to why the prices are rising? Could the hurricane Katrina have resulted in this?
How can the economic reasoning be explained more. .. I have the added information that was provided but I need additional economic reasoning.
(See attached file for full problem description)
The above mentioned links is one of the most comprehensive source for this answer:
First, in general, the price of a commodity, such as gasoline, reflects producers' costs and consumers' willingness to pay. Gasoline prices rise if it costs more to produce and supply gasoline, or if people wish to buy more gasoline at the current price - that is, when demand is greater than supply. Gasoline prices fall if it costs less to ...
Economic Reasons for Gasoline Price Fluctuation