What is the reason for oil price hike?

when will its cost come back to normal?why is that the price of oil has increased?What is the reason for oil price hike?
The main reason that the oil price is hiking because dollars value is falling every day. As we know America is the main provider of oil globally and is trying to keep dollars value using oil. And that because Europe is using oil in grate level is trying to sold this product in a price that will lower euros priceWhat is the reason for oil price hike?
The reason for the higher price of oil is the increased demand for oil in the global market. Developing countries like China and India are starting to demand more oil which drives up prices.





Will prices go back to normal? Only if demand for oil fall or supply of oil produced increases. It's unlikely that demand will fall and the primary supply of oil is primarily regulated by OPEC. So it's unlikely.
I think one of the major reasons is 'peak oil'. This is the term for the beginning of the end of the world's oil supply. They are just running out of plentiful sources these days. Couple that with wanton greed, increased demand from India and China like previously mentioned, and presto. I doubt you can blame the Iraq war. That is only one source.





Im sure when the big companies have been satisfied with enough profit, you will see the 'miraculous' introduction of alternative fuel cars by governments everywhere!
Conventional wisdom is supply and demand.





The US used to be the major consumer of oil. Now that other global economies have become more affluent, the US is no longer the major consumer. Both China and India are major consumers of petroleum, therefore the demand is higher.





Gasoline has been over $8/gallon in Europe for over a year. The US is catching up to what the rest of the western world has been paying for gasoline for a long time.
Iraq, which George Bush decided would be a good idea to invade, supplied a fair amount of oil, and the terrorists and militants decided to blow up the oil pumps/extractors.
Suppy and Demand. Hate to tell you, but welcome to the new ';Normal';.





More people worldwide want it, and more of it. When people stop wanting it, the price will have to come down.
the reason why the price of oil has increased is because the world is going dry with oil so the less we have the more it cost
This is the new normal , it's all about greed...

mascara