Oil price fluctuations's main source is OPEC which control over40% of global oil supplies.OPEC influences the price of oil by setting production levels to meet the global demand for crude oil.it can influence the demand by increasing or decreasing the production.crude oil is commodity and it is subjected to the economic laws of supply and demand.when demand exceed supply the prices will go up and when supply exceed demand the prices go down.Besides OPEC , politics, interest rates and natural disasters can also influence on the prices of oil.as we know if market is experiencing consistent hikes then fuel prices is increases and due to this ticket prices will also increases and vice versa.
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