Logistics and Statistics: Difference between revisions
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==Percentage Change in the Price of Crude Oil== | ===Percentage Change in the Price of Crude Oil=== | ||
Revision as of 20:11, 3 December 2006
The Price of Crude Oil
The graph above demonstrates the steady, yet fluctuating, increase in the price of oil. Between September 2001 and September 2006, the monthly average price of a barrel of oil has risen from $24.29 to $59.34. When looking at the graph one notices that the price has fluctuated continuously. The price reached a peak in the summer of 2006 and has been declining in the months since.
Percentage Change in the Price of Crude Oil
In order to calculate the percentage change in the price of crude oil, you need to use the same equation that you would normally use to calculate inflation. Since we already know the price of oil in September of 2001 and the price in September of 2006, we can simply plug the numbers into our equation and find the answer.
Market Movements | Comparison | OPEC | Affects of Oil on the Potential Level of Output | Oil: Post 9/11
