Why are Oil Companies increasing Jet Fuel & Oil prices so quickly ??

Question

I mean: What's the main reason that's causing Jet Fuel prices to increase so much is such a small amount of time????

Because right now Jet Fuel prices is double from what it was exactly 12 months ago or 1 year ago.

My question is: What's causing this? what's the main reason that has caused Jet Fuel prices to double in just 1 year ??

Because I thought that the World was supposed to run out of Oil in around 2035 or 2038 but not right now 2008.

Why have Oil Companies double the Price of Oil & Jet Fuel Prices in just 1 Year ??

WARNING: Anybody that tells me the main reason & answers all of my questions above correctly will be chosen as Best Answer.

Answer 1

reason?

it's called "profit" and "maximize profit"

a fairly simple result of capitalism in marketplace

"because they can"

Answer 2

Martin_B is correct.  Another reason that demand is so high right now is that the President has increased Federal oil reserves and is purchasing quite a bit.  The government has massive fuel reserves and nobody really knows for sure how much they are sitting on.

Answer 3

they are making money and they can

Answer 4

It is supply and demand.

There is only a certain amount of oil and jet fuel available and there appears to be more demand than supply.

Another reason could be because of the US dollar falling and the oil producers needing to make money.

A lot of the aviation  companies that market jet fuel actually buy the product on the open market and have to pay the mops (mean of platts) price for the product and therefore have to charge the market rate.