Why do Bulk Oil prices change daily?
– The Oils we sell are commodities and this means the price moves with the market, based on a number of factors.
– Social, Economic, Environmental and Political factors can all influence the price of commodities daily.
o Eg: If the currency exchange rate changes, so will the price.
o Or if there is a hurricane that wipes out large areas of crops, this will have an adverse effect on the price.
– Supply and demand also largely affect the price of the Oil.
o With little supply but high demand prices will rise. If there is high supply with little demand prices are likely to fall.
With so many factors affecting price, it’s hard to know when to secure the Oil you require for your business.
Call us today for more expert advice on the Oil market – we’ll be more than happy to help!
Factors Affecting Oil Prices
E.g. Currency and exchange rates
E.g. Pollution which could cause major environmental events to occur
E.g. Elections can impact the ecomony
E.g. Buying habits and lifestyle choices
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