From a purely economic standpoint, it's supply and demand.
They supply you with oil based products and demand your money! (just kidding).
First of all, oil is a limited resource in the Earth's crust. As a limited resource, we only have so much of it before it runs out and there's none left at all. So as the demand worldwide stays the same or increases for oil, the supply is only getting smaller. As supply goes down, and demand goes up or remains the same, prices naturally get higher.
Second, the companies and countries that have the rights to the land on which they drill for oil have the right to sell their oil at any price (assuming it's similar or less in price than other companies/countries offer) they want to countries with less oil-rich land. The demand in these countries may be very high, while the supply may be very very low. This drives up regional prices.
Finally, as inflation happens, the price of all commodities increases. As the value of a money supply decreases, the value of a limited resource increases.
Therefore, you get a constant rise on the price of oil.
-Jonathan C. Holcomb
Type your answer here... price hike is every where in the world is due to demand and population which is increasing day by day where the product to satisfy the needs of human is less compare to the demand.
its like an graph from lower middle class to high class people.. more or less the consumptions are identical ... which has leaded to the factor of hike price ...
Oil Price Hike is the increasing of the oil price.
the transporters of oil are having a hard time transporting the oil or the 1st batch of oil is used or bought by people even before the new batch arrives.
Price mean
When the price of an object increases.
what happens if petrolium price is hike
ang possible na epekto nito ay di na makakaandar yung mga sasakyan kasi wala ng gasulina
The catalyst for this price hike was the Yom Kippur War in which the West, and in particular the United States loaned their support to Israel in the form of supplies, funding and weapons. In response the OPEC nations resolved to up the price of oil and boycott the U.S and the West. There are a variety of reasons that contributed to this trend not continuing on through into the eighties
When the people responsible for price of oil raise it for no apparent reason.
nope
Price mean
When the price of an object increases.
An increase in cost
what happens if petrolium price is hike
Yes, the noun 'hike' is a common noun; a general word for a long walk or march; a general word for an abrupt increase or rise (a price hike or a pay hike).The word 'hike' is also a verb: hike, hikes, hiking, hiked.
9 times hike in last 9 months.
Another way of saying went up
To write a report about a price hike in a newspaper, gather relevant information such as the product or service affected, reasons for the increase, impact on consumers, and any responses from officials. Structure your report with an engaging headline, introduction summarizing the issue, detailed body explaining the price hike, and a conclusion discussing potential implications or solutions. Use quotes from affected parties and include data or statistics to support your report.
ang possible na epekto nito ay di na makakaandar yung mga sasakyan kasi wala ng gasulina
Way too much! $3.89 each in Colorado. They release 2 for 1 coupons to soften their price hike. Then the brain dead forget what it was before price hike behind the coupon curtain deception. I can only guess the price hike is directly relevant to the savings they lost with the decision to stop using pink slime.