Oil reaches $ 104

6 03 2011

This year oil raised up to a price of $104.91 per gallon which is an all-time high for the world. The reason for this is the very unstable situations all over the middle east. The world is anticipating the rise in oil to get even higher so people are trying to buy lots today. This is an example of supply and demand changes, as there are a lot less producers of oil, the prices will go up. This changes the price equilibrium.





One response

29 03 2011
Oh that silly supply and demand thing… | Cynthia Douglas

[…] Oil reaches $ 104 (macnomics.wordpress.com) […]

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