Why is there a inflation in oil price?

Question

Why is there a inflation in oil price?

Answer 1

because there are greedy people who wants to control it, because they have it. if you are the world's number one oil provider what would you do?

Answer 2

Because oil is limited.

Answer 3

because oil is traded in USA dollars, which is losing value, so the price of oil goes up to reflect that

Answer 4

dont think so

Answer 5

so that achmed bin jameenahajad can have golden plated ceilings in his palace

Answer 6

High demand

please answer my question

Answer 7

there's a high demand for it and not enough of a supply. it's the same with most of the economy.

Answer 8

Same reason prices go up in any business: Profit.

Answer 9

there isnt

apparently oil prices have decreased by 15%

but because of inflation they seem higher

Answer 10

Good question, it is the futures market that is keeping the prices high but it should be cheaper in the UK because of the week dollar, but the good old tax us to death government make sure we still pay the most. good old England eh!