Crude Oil and Fuel Prices

Gasoline and dieselDiesel is the name of an internal combustion engine that works by compression-ignition... prices are determined by many factors: the price of crude oilOil that has not been refined. , refining, transportation and marketing costs, local government taxes, oil company margins and, lastly, the price of any biofuelA fuel produced from plant or animal matter. There are currently two types of biofuel... blended into the product. In France, taxes made up more than 60% of the pump price of fuels in 2016.

Oil prices have fluctuated considerably over the decades, particularly during the global crises of 1973, 1979 and 2008 and following the economic developments of 2014 and 2015. The price of crude has a significant impact on the global economy due to the dominant role this resource plays, both today and in the decades to come. 

For years, all oil companies have been focusing their research on producing fuelFuel is any solid, liquid or gaseous substance or material that can be combined with an oxidant... and lubricants that protect vehicles' engines, improve their performance and reduce fuel consumption and CO₂See Carbon Dioxid and pollutant emissions. "Eco-performance" is just as relevant for ships and airplanes as it is for cars, and also applies to all services along the fuel marketing value chain.