Are Petrol Prices and Crude Oil Prices similar?

Do they increase and decrease proportionally? since petrol comes from Crude oil?Are Petrol Prices and Crude Oil Prices similar?
No they are not.Crude Oil prices are establishes by the producing countries ,who's organization is OPEC, and the price is set Barrel to U.S.$


Then they sell the oil to the big Petroleum Refineries (B.P.-Texaco - Shell etc) and those will put the final products on the market and fix the price you and I buy it.


Those prices are totally governed by the laws of quantities on offer and demand.


Therefore you can see when a war breaks out in a region rich in oil and production might be stopped by this, the prices go to the roof.


Also the demand plays a big role,now that China,India and those up-coming countries have a bigger demand for oil the prices rise. If the general economy is down or slow the prices fall.


A whole business a a big playground for the big Companies in other words they can do as they well please.


Hope this answer your question.Are Petrol Prices and Crude Oil Prices similar?
both come from same crude oil they are different distillates


both are administered prices .


prices have no relation with costs