when the dollar drops does the price in oil increase hence consumer petrol risesPrice of oil?
No, oil is denominated in dollars so oil gets cheaper for others when the dollar falls. Unless, that is, they live in countries that tax gas heavily which is pretty much every country in western Europe.Price of oil?
The person above (eg) is right. US demand for oil is keeping the price from falling. We consumed almost 3 times (20,588mb) the amount of oil as the second place country (China, 7,274mb) in 2006.
As more nations continue to industrialize demand for oil will continue to increase and prices will continue to rise.
Here in the UK it costs 拢1.2p a litre!
Of that 30p is the real cost of fuel, 6p is profit for the oil company %26amp; all the rest is taken by the government in tax %26amp; duty!
This information is from BBC news!
What a rip off!
The tax rise.
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