The Price of Oil is Unstable and So The businesses

[Fragrance1122]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

[Coin_info]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

It is the same situation that we are facing in our own country and maybe most countries, it is just so sad that the rising cost of petroleum products is not matching our income and if you want to follow the increment and not choose to spend wisely, you may spend a large amount of your income on just petrol and diesel alone putting you at a tight position for other needs that you require. It is a terrible situation but the truth is just that you need to personally seek for alternatives on your own That is ways that you can cut cost and ensure that you are still able to sort out other needs and have some money left for investment.

People are buying electric vehicles (cars and motorbikes), and installing solar as alternatives to cut cost, and while it is not affordable for everyone, it is a good way to save money in a long run if you can somehow find a way around it and own them.

[Charles-Tim]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan

No one need to know your identity or where you are from.

Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

The price of crude oil recently increased. The Iran war is one of the reasons, but Ukraine bombing Russia oil facilities with drones is the main reason for the recent oil price increase.

It is very sad that all humans have to pay for the wars.

Do anyone of you have the same problem in your country?

The price increased also in my country.

[Ambatman]

Yeah we face similar in my country that's quite reliant on oil for transportation
And most machinery.
When I found out how cheap Iran own was
I was actually surprised. Never knew petrol could be that cheap
I understand some would argue that they have oil and refineries
We also do have oil but no working refinery.
Here if there's a 10% increase in petrol
Transport cost would be increased by say 40%. And if it reduces
They won't reduce the cost of transport and this indirectly affects others ventures and Goods.

[abhiseshakana]

My country actually face same problem with Pakistan, but instead of adopting a policy of strict quota restrictions and radical costcutting, Indonesian government adopting a diametrically opposed fuel subsidy policy approach, government choose to prioritize macroeconomy stability by keeping prices flat which mean shouldering heavy fiscal burden.

I think the difference because Indonesian fiscal resilience stronger than Pakistan, so policy focused to withhold inflation shock to keep purchasing power of middle and lower income class. Indonesin has fuel subsidy based on commodity.  Only subsidized fuel which got price maintained, non subsidized fuel also have price increase, which bring consumer massive migration from non subsidized to subsidized fuel due to widening price disparity. Beside that government has leverage domestic energy mix advantages using B40 (blending containing 40% biodisel from palm) to reduce dependence for oil import.

Hopefully, the situation in Pakistan improves soon.

[Bd officer]

. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

The fuel crisis is not limited to just one country, it has affected almost all countries of the world. Let us tell you about the situation in our country, if you buy oil from the pump, you can buy it at the government's fixed price. But if you buy it from a local shop, you need to spend 20 to 30 or more per liter. Although as far as I know, the price is not increased every day at the pump. But in the retail market or local shops, traders try to sell at a higher price by increasing the price depending on the demand. This means that unscrupulous traders take advantage of the opportunity.

[Fortify]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

Well in normal times it is fairly stable, only when idiot leaders like Putin and Trump start pointless wars does the price go up. I don't think it's any coincidence their countries are the biggest producers of oil so would benefit the most. That would usually be the case for Russia but they've had most of their oil producing capabilities knocked out by Ukraine, who they thought they'd beat in 3 days yet here we are four years later in a festering quagmire. The sooner these decrepit old farts die the better the world will be again and things can start to heal. As things are rebuilt the prices should start to come back down again, rather than wars created for distraction from the scumbags at the top ripping everyone off and just hoping to sustain themselves in power. Blame Trump. Blame Putin.

[Shadiq]

Do anyone of you have the same problem in your country?

This problem is not only in your country, but in almost all countries. The level of instability may be more or less, but the price of oil is now very unstable compared to the past.

If the price of oil increases, the price of services will increase, the price of goods will increase and the cost of transportation will also increase. As a result, unwanted inflation is making public life miserable. It is difficult for the government to maintain economic stability and it is also difficult to control inflation.

Ukraine-Russia and Iran-America are fighting among themselves, but the common people who have nothing to do with the war are suffering the consequences.

[Die_empty]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

Three years ago, petroleum products were subsidized by the government. So we didn't feel the impact of global crude oil price instabilities. Now the sector is deregulated, and we are now facing the same thing as your country. The market is now determined by the market forces of demand and supply. With the US and Iran still at war and the conflict in the Middle East escalating (Saudi Arabia and the Houthis), we would have to prepare for more price increases.

Using alternative means of transportation, like bicycles, solar-electric vehicles, and electric cars, is now becoming popular in my country. Sadly, those who are causing this war don't care about the impact of this war. Pride and an insatiable thirst for power are blinding them to the global mess they have caused.

[mindrust]

It will get much worse before it gets better. Iran isn't going to bend and USA can't step back. Either way something will snap soon. Iran and Russia are already fighting a war so It can't really get much worse for them. China is swimming in money and resources. They don't care if the rest of the world burns. I wonder how the world will look like in 2030. It will probably look less pretty than what it is now.

[cocadalcan]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

The business model is geographically different. In your country, as you mentioned in the oil business, in other countries, people may be worried about the increase in the price of goods because the price of goods is increasing every day. There is a lot of work to be done but there is no employment. Every country may have some problem. For example, in my country, there is the problem of inflation and also lack of employment.

The people of our country are trying to earn money and the government's efforts are commendable in some cases but in some cases they are negative. I think most of the people in our country do not think the steps taken by the government are sufficient because the leaders of the political parties are involved in corruption.

[Lembo69]

The business model is geographically different. In your country, as you mentioned in the oil business, in other countries, people may be worried about the increase in the price of goods because the price of goods is increasing every day. There is a lot of work to be done but there is no employment. Every country may have some problem. For example, in my country, there is the problem of inflation and also lack of employment.

The people of our country are trying to earn money and the government's efforts are commendable in some cases but in some cases they are negative. I think most of the people in our country do not think the steps taken by the government are sufficient because the leaders of the political parties are involved in corruption.

Widespread inflation in the country is largely driven by the involvement of political leaders in corruption. You have rightly pointed out a crucial aspect: if fuel prices remained stable, the cost of other commodities would at least stay somewhat within reach. The people of a country find relief only when the goods they need are affordable. Commodity prices have soared to such an extent that people are struggling even to purchase daily essentials. Rising fuel prices increase transportation costs, which in turn drives up the prices of goods. Therefore, reducing fuel prices should be the first step toward curbing inflation.

[Sammye3]

. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

The fuel crisis is not limited to just one country, it has affected almost all countries of the world. Let us tell you about the situation in our country, if you buy oil from the pump, you can buy it at the government's fixed price. But if you buy it from a local shop, you need to spend 20 to 30 or more per liter. Although as far as I know, the price is not increased every day at the pump. But in the retail market or local shops, traders try to sell at a higher price by increasing the price depending on the demand. This means that unscrupulous traders take advantage of the opportunity.

In most cases, traders are the cause of the sufferings of people. There are many occasions where the cost of goods in a state is almost twice the price in another state, and traders will use the transportation cost narrative to spike the prices without thinking about how that will affect the retailers or even the final consumers.

In this case, the cost of fuel, which has a more regulated price variation based on government standards, though scarcity will always increase the circulation of adulterated fuel produce by these road side hawkers just to make extra profits. Some petrol station are also using an adjusted meter to make more profits too, it's an economic problem that could be found in most countries.

[Spaceman1000$]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

Your country is not the only one going through this situation of petrol and diesel, Nigeria my country has been greatly affected by the price of petrol and diesel because of fuel subsidy that was removed by the president. My country is an oil producing country but petroleum subsidy that the citizens has been used to was removed, and it affected literally everything in the economy, at a point even Uber had to leave because they weren't getting the expected revenue. I've always advocated for the fact that the government should always subsidize the energy sector regardless of how the price is in the international market.

[Hyphen(-)]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

The forum is a place wherever learn and share information about Bitcoin and cryptocurrencies alone, we do share some important information that can be useful to this forum, no one cares about where each others come from because we are all here as one and with one goal which is learning purpose.

Your community can help you since we have local boards for us to discuss some aspects related to our countries as far as crypto and Bitcoin are converted, and to also use our native languages to communicate because of some is us that don’t know how to speak and write English language. The idea is to share knowledge in the forum.

About the price of fuel in your country, the government needs to wake up and use price control policy to the marketers taken care of the price movement of goods and services, so that the citizens will not be affected when the rich investors are making good money.

[Cryptomultiplier]

Everyone is suffering for the wars other countries are fighting mostly when energy like crude oil is involved and mostly affected. My country also produces oil but it still got affected as always has been the case with taxes rising and minimum wage amount is not enough to survive on.
It's not a shock, because the price of oil has always been on the high and food items and electronics always makes an upward price increase that it's so much more consistent on a weekly basis to expect it.

Businesses would have to be affected too because the cost of energy is high and they must operate to ensure they make profit regardless or be shutdown by competitors striving to make it work or using alternatives to survive the trend.

[ColdLava40]

As everyone can see that I have just promoted from junior member to member, so one of the senior member of this forum who suggested me this forum told me not to expose my identity, I don't know why.. but i would like to tell everyone about my country because the question would be incomplete without it.. I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

At this point of economic crises, oil price as continued to rise.

Same thing is happening in my country right now and it just doesn't add up how we went from 900 per litre to around 1500 naira per a litre of petrol. The price has been climbing and I don't think it will stop there except they maintain it.

The only problem with my country is that our economy does not obey the laws of gravity. When things goes up, it fails to come back down.

As for your identity, no one really cares about that so the person was right.

[slapper]

We have an $7 billion IMF program to sustain. We cannot continue to take in fuel costs and drain our reserves. That argument is not irrational. Fiscal collapse is bad for everyone.

But then on the other hand you have what you are describing. Real businesses. Real closures. Those who arranged months in advance and now are unable to.

Brent has been trading at levels higher than $100 for weeks. Partly due to the situation of around the Strait of Hormuz. It is beyond the control of Pakistan. The routes you are traversing are geopolitically challenged areas and the currency you are paying for is not your own.

So the daily pricing mechanism hits you from one side. The other side of the world smacks you on the back. Then the businesses in between simply take it.

I am curious actually, what sector are you in? The impact of this on a food retailer, a manufacturer and a person in services is quite different.

[Roseline492]

I am from Pakistan and in here the new policy about petrol and diesel is disgusting. Before the prices used to minimize or maximize once a month or even more. Then it came to a week and now the limits has been crossed and everyday we woke up daily with a new price that increases 5-10 rupees , sometimes more than that and when it decreases it decreases in paisa(like cent).. it is totally ashame.. most of the businesses are closed and some are there on the edge of closing.

Do anyone of you have the same problem in your country?

If I'm not mistaken I think one of the problem that have affected petrol price in your country Pakistan was majorly because of the war in the middle East that's why the affordable petrol price you use to see is now something that has become a concern so perhaps it will definitely stabilize when everything will go back to normal. However in my country when everything is normal petrol prices is usually on a stable price but the moment there is a conflict or political interest in the country that's when you will see it suddenly rise higher than the way it was, although this war is also another reason why our petrol price is still very high.

[Josefjix]

The same spike in price of oil in my country, it's never going down to the point people's businesses are closed down also. At first it was said the reason is because of Iran war caused it, now that the war had calmed down a little bit and the oil well region is now open for business, the price suppose have dropped but no way till now.

What I see to beat this economical succession is earning in foreign currency or Bitcoin enable you stay ahead of the expenses from goods,  and services as well as oil too.