Gas stations off of I-25 dramatically increased their prices during the solar eclipse in August of 2017, giving rise to complaints of “price gouging”. Using the same critical thinking presented in RWM 2.1 Price Gouging: It’s Just Supply and Demand, what are the supply and/or demand changes that caused this high price for gas during the eclipse? Why would the short-run price elasticity be lower in the long-run for gas in this case? Is price gouging fair?
