So, the oil price rises and those basic chemicals that are tied to the oil price will also rise.
Normally, when the oil price rises, Saudi Arabia's rulers dust off their laurels and lay thoughts of reform to rest.
So it's that mismatch that explains the oil price rises over the last five years and I think the market will remain tight.
But this still commits the party to raising fuel duties year by year in line with inflation, no matter how high the world oil price rises.
The Scandinavian country, which was hard hit by oil price rises in the 1970s, now gets the majority of its electricity from nuclear and hydroelectric power.
It some regards, it might even make it worse as oil price rises are bad for India, and a weaker dollar is seen as a negative for Brazil.
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Barclays Capital's head of commodities research, Paul Horsnell, forecasts that this will be higher in the coming 12 months, as 2008 looks set to be the seventh successive year of oil price rises.
Consumers across the world, such as in the UK and the US, have been hit by rapid rises in the price of petrol as a direct result of the oil price rises in recent months.
Although many countries' economies are now less susceptible to oil price rises than they were during the oil crisis of the 1970s, there has been growing consumer and political concern about the inflationary effects of oil's continuing high price.
Conversely, taxes on oil companies will be increased whenever the price of oil rises above the same level.
If the price of oil rises too high, increase production to bring it down again.
As the price of oil rises, people begin looking at alternative energy sources of all kinds.
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In crude oil, the large price rises in July and August led to selling, while buying occurred in September when prices fell.
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These credits, however, run only through the end of 2007, and are reduced gradually to zero as the average price of oil rises.
The country aims to replace all fossil fuels with renewables before climate change damages economies and growing oil scarcity leads to price rises.
Since the ruble tends to strengthen when the price of oil rises, because the Russian budget and economy are both so heavily dependent on energy exports, you would expect that a tripling in the price of oil would have significantly boosted the ruble.
If the U.S. economy continues to slow into the first quarter of 2013, and if Europe remains a basket case next year, then oil demand will be stable and price rises will largely depend on Asian demand and the usual Middle Eastern drama pitting Tel Aviv against Tehran.
The Bank has resisted calls to raise interest rates - seen as the most effective policy tool in combating inflation - on the basis that temporary, external factors, such as rising oil and food costs, are driving price rises.
These factors do not imply that America is impervious to spiking oil, but they do suggest the impact of price rises to date will be modest.
They may use that wiggle room to raise the cost of petrol, frozen for the past six years despite big rises in the world price of oil.
The NDRC has warned some companies about the dangers of inflation, pressuring firms that make products including cooking oil, food and soap to steer clear of rapid price rises.
As the price rises, we know producers will seek ways to bring more oil to market, and consumers will reduce their consumption.
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Future above-inflation rises planned by the previous Labour government will be scrapped - unless the price of oil falls below a certain level.
There is a risk that price rises will peak after the first quarter of next year, if the past effects of higher oil prices start to work their way out of the consumer-price index.
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