BASIS ON WHICH PRICE OF PETROLEUM DECIDED...

$$ For the selling price demand and supply are important but other important factor is Quality.

The main composition of petroleum are

1) Carbom __ 83-87%
2)Hydrogen __ 10-14%
3)Nitrogen, Oxygen, Sulphur etc. __ 1-4%

But the decideding component is Sulphur,
whose measure should not be high.

Petroleum with less sulphur is known as sweet and petroleum with high sulphur is known as sour.

Sweet petroleum has High Rates.

FOR MORE INFORMATION WATCH MY VIDEO(English).

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