The price of gasoline was much higher in 2007 than in 2003 because

A) The increase in demand from the emerging industrial nations China and IndiA.
B) The decrease in supply due to the disruption in drilling and refining oil in the Southern United States due to Hurricane Katrina.
C) Both of the choices.
D) Neither of the choices.

Industrial Nations

Industrial nations are countries that have highly developed industries and infrastructure, typically with advanced technological capabilities and high standards of living.

Hurricane Katrina

Hurricane Katrina was a devastating Category 5 hurricane that struck the Gulf Coast of the United States in August 2005, causing widespread destruction and significant loss of life.