Why fuel price rise in international market????????

Question

Why fuel price rise in international market????????

Answer 1

The price of any commodity depends on demand, supply and futures. Demand for fuel is increasing and the supply is not. At the same time future demand seems to be increasing as well but the supply is uncertain. So people tend to increase the price to reduce the consumption but the slightest margins which would ensure supply in the future as well. The futures can be called speculation as well. People are speculating that there would be some disruption somewhere. This maybe in Nigeria or Iraq, Venezuela or anywhere. And that could result in some chaos so people are bidding more for fuel so that they can secure their supply.

Answer 2

google "non-price determinants of supply & demand"

that will give you your answer

Answer 3

According to a law , price increases because of limited supply of a commodity , which is because of increasing demand for fuel and fuel products globally.

Answer 4

To sum it all up it is corporate abuse.