Why does gas fluctuate prices so much from day to day? Why don’t they have a set price, like how most goods are?

Question

Why does gas fluctuate prices so much from day to day? Why don’t they have a set price, like how most goods are?

In: Economics

Answer 1

Gas price is essentially a reflection of crude oil price. (There are some other factors, but the price of c[rude is the single most important](https://media.bespokepremium.com/uploads/2020/04/042020-Gas-vs-Oil-Prices.png))

Crude oil is a commodity. It is bought and sold, is traded in the commodities and futures markets, and as such its price fluctuates daily. Or hourly. Or by the minute

It would no more have a set price than literally anything else. Prices always change