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Gas prices are set by a supply and demand system. If something happens that effects that system then the price can go up or down. Gas prices will go up in the United States when a Hurricane hits the Gulf of Mexico coast and the Oil processing plants and Oil rigs have to close down. The demand for the oil/gas goes up and the supply goes down so the prices go up. In a situation like the Swine flu gas prices are going down because the demand is going down while the supply is going up. As the demand for gas/oil goes up the prices will follow.
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Why is the price of oil consistently increasing which is causing petrol to rocket in price?
Oil is set by the oil cartels and the government. They have their own reasons, including greed to set the prices the way they do.
Does the changing of petrol price affect the rate of inflation?
The changing of petrol price affects the rate of inflation. When petrol price increases, it follows that the cost of production and transportation of most goods also increase.
Does the price of oil affect the price of petrol?
Yes, petrol prices will move slightly to reflect the oil price, although in the UK the the oil cost is a very small part of the price per litre, tax and fuel duty makes up the majority of the cost. Also as petrol if produced through fractal distillation (separation of crude oil) the price of petrol is most likely to increase slightly through the price of oil.
How the non price price factors affect demand and supply?
By doing the factors..
Causes of price rise?
there are mainly 6 factors that are responsible for price rise 1.monetary factor 2.increasing population 3.availablity of raw material at high costs 4.price rise by the government 5.smuggling,hoarding and black marketing 6.black money
What is price of unleaded petrol?
ever increasing.
How are actual PETROL PRICES tied to the cost of a barrel of oil?
Petrol, or gasoline, prices will fluctuate, generally, in the same direction as the price of oil. However, there are other factors, including shipping and refining expenses, that go into the price of petrol.
What are the major advantages and disadvantages of using petrol in internal combustion engines?
Some of the major advantages of using petrol in an internal combustion engine include: ease of availability of petrol, non-corrosive nature of regular petrol, relative safety of liquefied petrol. Some of the disadvantages of petrol include: enviromental damage of unburned petrol and unrestrained Hydrocarbon emissions, steadily increasing price, petrol is relatively inefficient and production of CO2 even with perfect combustion.
Are petrol stations allowed to change the petrol price to the old price if old petrol is in the petrol tank?
I don't know who asked that question, but he must be f***ed in the brain
Why is the price of oil consistently increasing which is causing petrol to rocket in price?
Oil is set by the oil cartels and the government. They have their own reasons, including greed to set the prices the way they do.
Does the changing of petrol price affect the rate of inflation?
The changing of petrol price affects the rate of inflation. When petrol price increases, it follows that the cost of production and transportation of most goods also increase.
What is the correct increasing order of evaporation of petrol alcohol kerosene water?
kerosine oil, water, alcohol, petrol...:)
What considerations determine a good's price?
Factors related to price include legal and regulatory guidelines, pricing objectives, pricing strategies, and options for increasing sales.
What was the price of petrol in Britain in 1958?
in the 1958 britain's petrol had didn't price than now, because many the people of Britain didnt now about petrol and their use...........
What was the price of petrol in Australia in 1984?
In 1984 the price per litre of fuel was 50¢.
Can petrol stations charge the new prices if they have old petrol in the tanks?
obviously yes...because petrol like gold is priced at market price and not at the price which existed earlier.
Price of white petrol?
good
