Study on the Factors Influencing Fuel Prices

The aim of the research is to carry out a study on the fiscal instruments that influence the final price in the oil field. The evolution of consumer fuel prices and the price per barrel of oil for the period 2016-2021 will be analyzed in time and space. This aim can be achieved by meeting the following proposed objectives: the need for taxation of consumption and the place of taxes in this form of taxation; analysis of taxes and fees as a corrective instrument of market failures; analysis of the influence of taxes and fees on the price of fuels and other factors that influence the price of fuels; the evolution over time of the price per barrel of oil. In order to achieve the intended goal, statistical data and analytical methods will be used. The results of the research are materialized in a linear model of the evolution of the price of the barrel of oil over time and in the conclusion that fuel pricing strategies must be based on effective taxation and taxation policies.