Oil prices is a pain in the arse. I've made two researches on the Oil Industry and this is a big game.
Petrol used to be dead cheap over here (Greece) with prices ranging from 0.65 Euros to 0.75. Now it is 0.85-0.90. Apparently, the petrol we get is from the North Sea that is considered the best in quality in the world.
So, the oil prices are determined by several factors mainly from but certainly, one of the main reasons is the supply and demand.
Note that the Iraqi production that is in the top 5 oil producing countries has almost ceased which leads to less production=> higher costs. The Saudis expressed their difficulty to increase oil production and the Russians are basically f***ed up.
So, who gains from that? Oil Companies. My first research was when the oil prices were as low as 9$/br and many independed companies had to cease operation because ROI was going deep down the {bleep}hole.
The solution would have been to stop using cars and use public transportation/bicycles/walk. There is heating of course, but there are alternative ways to get heated. Even electricity costs less to me for heating now.
