In April 2015, the U.S. Energy Information Administration projected that the ave
ID: 1137478 • Letter: I
Question
In April 2015, the U.S. Energy Information Administration projected that the average retail price for regular-grade gasoline would be $2.45 per gallon for the remainder of the year (the lowest average price since 2009). Indicate which of the following events might have triggered a decrease in gasoline prices O A. O B. ° C. The price of oil decreased substantially The supply of oil decreased The price of oil increased substantially. All of the above. D. Before 2014, the price of gasoline peaked at $3.68 per gallon. What could have caused gas prices to spike? A. O B. O C. O D. Unrest in Iraq caused an increase in the cost of extracting oil The price of oil increased substantially Worldwide energy consumption spiked. All of the above.Explanation / Answer
Option C) as the price of oil falls, gasoline that's a product that is produced from cruise oil, gasoline price will also fall.
Option d) all the following- a decrease in supply, incrasei in consumptoco and incraese in input prices will all cause price of gas to increase.