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Retail markup over crude oil and wholesale gasoline, 2014–2019 Oil, gas, and diesel prices RBOB Gasoline Prices. In 2008, a report by Cambridge Energy Research Associates stated that 2007 had been the year of peak gasoline usage in the United States, and that record energy prices would cause an "enduring shift" in energy consumption practices. [6]
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
An attempt to acquire OPIS in 2011 failed following market objections and Federal Trade Commission resistance. [ 14 ] In 2022, when S&P Global completed a merger with IHS Markit, it combined the divisions S&P Global Platts and IHS Markit ENR to form the renamed S&P Global Commodity Insights, dropping Platts from the division's name, [ 15 ...
Dali opened its first store in February 2020 in Santa Rosa, Laguna, and by the end of 2022, it had at least 250 stores in the Philippines. [2] In March 2023, the Asian Development Bank (ADB) invested US$15 million to support the retail chain's expansion. [4]
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.
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Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.