Preheat the oven to 350 F.
In a large bowl add the flour, white sugar, brown sugar, cinnamon, baking soda, baking powder and salt. Mix until well combined
Add vegetable oil and mix it with the flour mixture.
In a bowl add two eggs and whisk it. Add the whisked egg and vanilla extract to the flour mixture, and mix it well.
Add freshly grated carrot and chopped nuts to the batter. Gently fold the carrot and nuts in to the batter.
Grease and line a 8 inch round pan with parchment paper. Pour the batter into the pan and gently tap to remove any air bubbles.
Bake for 25-30 minutes until the tooth pick inserted comes out clean. Remove and let the cake cool in the pan for 15 minutes. Remove the parchment a paper and let the cake rest for another 30 minutes before frosting.