Petrochemical Pricing 1PETROCHEMICAL PRICINGBy Students NameCourse codeProfessors nameUniversity nameCity, StateDate of submissionPetrochemical Pricing 2Challenges Attributed to Petrochemical PricingThe petrochemical industries have had various challenge ranging from environmental,pricing, logistics, competitive, frequent technological developments, amongst others. The drasticdecline in crude oil price has complex challenges to the global chemical industry. Fluctuation inoil prices may result to increase or decrease in chemical demand, affect production, and alsoaffect the trade flow. The industry has a high stake in the total petroleum industry, approximatedto be more than 12%. The petrochemical products are used in various ways such as packaging,household goods, medical appliances, paints, textiles, construction materials, amongst others.However, the petrochemical industry faces a lot of challenges that would create a need in how itoperates in the near future. The paper seeks to critically investigate the various practices andchallenges faced in setting the prices of petrochemical products and highlight the effect ofregional influences on petrochemical pricing with reference to the Sultanate of Oman.(Hussain, et al., 2006)Petrochemical Pricing 3The graph above showcases the price of crude oil to the year 2016. Oil consumption isthe leading fuel accounting for 32.9%. Since 2014, crude oil has recorded the highest pricedecline. The succe ...
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