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Phyllis McCray
on Oct 13, 2024

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Which of the following could have caused the price of gasoline to reach nearly $6 per gallon in some parts of the South on Labor Day weekend,2007?

A) The greed of the sellers.
B) The temporary shutdown of offshore oil wells due to Hurricane Katrina.
C) The temporary shutdown of some of the oil refineries due to Hurricane Katrina.
D) All of these choices are correct.

Offshore Oil Wells

Drilling sites located in bodies of water, often at a considerable distance from the shore, that are used to extract oil from beneath the ocean floor.

Oil Refineries

Industrial processing plants where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, and jet fuel.

Hurricane Katrina

One of the deadliest hurricanes to hit the United States, causing widespread destruction along the Gulf coast, particularly in New Orleans, in August 2005.

  • Evaluate the effects of worldwide occurrences and environmental catastrophes on the supply and demand in markets.
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Arianna StokesOct 20, 2024
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