Demand
In this section we take an in-depth look at the crude oil market.
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How demand affects prices
Gaining an overview of how oil is produced from the "well to the wheel" helps to clarify why fuel prices rise and fall. The three steps in the fuel supply chain begin with the exploration and production of crude oil; followed by refining it into various fuels such as petrol, diesel and heating oil; and finally, marketing and distributing these products. Each of these product markets are independent and highly competitive.
Refining capacity
In this section we summarise how the limited supply of oil refining capacity can affect fuel prices.
Operating costs
In this section we look further at how operating costs and other factors affect fuel pricing
