I’m studying for my Management class and need an explanation.
For this Discussion Question, complete the following.
Read the two articles below that discuss why fuel prices fluctuate. Research two of these types further.
Locate two JOURNAL articles which discuss this topic further. You need to focus on the Abstract, Introduction, Results, and Conclusion. For our purposes, you are not expected to fully understand the Data and Methodology.
Summarize these journal articles. Please use your own words. No copy-and-paste. Cite your sources.
During the second week of the Module, you will need to reply to the posts of two of your peers. Your replies must focus on increasing knowledge of the class and must advance the discussion further. Simply affirming your peers does not count as a substantive reply.
Peer 1 Post:
Supply and demand affect fuel prices. Supply and demand laws cause oil prices to change. When supply exceeds supply, prices fall and vice versa. The recession caused oil demand. With the recession, the supply was increased. Supply and demand cause prices. If the demand is exceeded by the supply, there is a fall in the prices and vice versa. The recession affected the demand for oil. With the recession, the supply was increased. The oil demand is a function of the demand of other commodities. If the demand is too high, the oil supply is too low. The oil demand is a function of the demand of other commodities. If the demand is too high, the oil supply is too low. If there is too much demand for oil, there is too much supply, which is what has happened in the last few years (Yan, L. 2012). If there is too much supply for oil, which has not happened in the last few years – there is too little demand. It is obvious that the supply must rise if there is to be enough oil for the demand. It is obvious that the supply must rise if there is to be enough oil for the demand. The price of oil depends on whether there is an increasing demand or a decreasing one. The price of oil depends on whether there is an increasing or decreasing demand. When there is an increasing demand, the price rises and vice versa. When there is a decreasing demand, the price falls and vice versa. Suppose that the demand for oil is too high. It is obvious that the oil supply is too low (Stock, J. H. 2017).
Peer 2 Post:
The fuel demand and supply graph is always a deep retrospective of the pattern of the growth of consumer usage. The trend of the retrospective increase in the fuel increase is retrospective of the potential of fossil prices. As per statistics, the trend of fossil fuels has increased from the 1950s to the 2000s. It is evident that in recent years, fossil cost has decreased with conventional natural gas prices increased in many folds. This has significantly enhanced the growth of raising environmental awareness and thus it inputs the steady growth of the prices (Shafieea & Topal, 2009).
The significance of fossil is an important part of the whole economy, and its potential altercation cannot be underestimated in any sense. It needs more achieving factor to insist on the reasons for the other factors which are insisted and that is a potential drawback which can be insisted through the pattern of the growth of the energy needs. This is a big plan which needs to be adequate to achieve the possibility of the futuristic assumption.
Since a major part of the extraction of natural resources is enforced through raw material usage and that strictly means fluctuations of the prices. Since as discussed with the demand graph, some changes bring this calculation to the needs of energy. The organization and economy go on the balance of the cost of the energy requirements. This situation will increase the price and thus their rate change in the course of the period (Shahriar & Topal, 2010).
Thus consumption and consequences of limited volatility have a hard relationship that needs to be addressed. There are potential factors that insist that fossil fuel is a privileged product of the whole cycle. It will get diminished and its demand needs to be understood so that we go in the perspective of fuel prices which is equipped and relates to the more robust question of economic growth.
Please write a 150 word response to both the peer posts and summarize the journals with 350-400 word response.
Please post (in APA format) your article citation.