Getting Petroleum Products to Market
Sunday, 19 July 2009 , Written by « World Bank »   

 The sharp price increases in the world oil market in 2007 and 2008 took everyone by surprise. And just as some oil analysts were forecasting US$200 a barrel or even higher, the oil price collapsed in the last four months of 2008. The speed at which the price changes on the world market were transmitted to retail prices became the subject of much debate. Consumers the world over argued that something was not right with the way their petroleum markets were functioning, benefitting oil companies and harming consumers. What determines these prices? This briefing note provides an overview of the petroleum product supply chain and factors contributing to retail prices.

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