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Question: 18 
Why do international events affect fuel prices in Newfoundland and Labrador?

Commodities, such as crude oil and gasoline, are traded on the global market and their prices are largely influenced by factors not solely related to the fundamentals of regional demand/supply, but also by the many geopolitical events, military activities, natural disasters or other major events that can occur internationally.

News of events that can affect output or refining capacity may also affect fuel product value and perceived supply availability globally, or conversely, any event that reduces apprehension in the marketplace may contribute to lowering prices.

 

 

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