What are the factor affecting demand for petrol?

The demand for petrol is influenced by several factors, including price changes, consumer preferences, and economic conditions. Higher petrol prices often lead to reduced demand as consumers seek alternatives or reduce travel. Additionally, factors such as the availability of public transportation, the rise of electric vehicles, and seasonal variations (like summer travel) can also significantly impact demand. Lastly, income levels and overall economic growth play a crucial role, as increased wealth typically leads to higher fuel consumption.