oil price

USAGE SUMMARY

'oil price' is correct and usable in written English.
For example, you could say, "The oil price has risen significantly in recent weeks."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

59 human-written examples

The oil price gyrated.

The Economist

The oil price is plunging.

Independent

Is the oil price recovering?

The Economist

OPEC needs a reasonably high oil price.

Independent

We want a stable oil price".

Independent

The second is the oil price.

The Economist

The oil price will be volatile".

The New York Times

The first is the falling oil price.

The Economist

A high oil price has helped.

The Economist

Countries that suffer when the oil price plummetsIN 2008 the oil price hit $140 a barrel.

The Economist

Human-verified similar examples from authoritative sources

Similar Expressions

1 human-written examples

Further oil-price drops could be devastating.

The Economist

Expert writing Tips

Best practice

In formal writing, clarify which benchmark "oil price" you are referencing (e.g., Brent Crude, West Texas Intermediate) to ensure precision.

Common error

Avoid making sweeping statements about the impact of "oil price" without considering regional variations and market-specific factors. Always contextualize your analysis.

Linguistic Context

The phrase "oil price" functions primarily as a noun phrase, acting as a subject or object in sentences. It refers to the monetary value or cost associated with crude oil or its derivatives. As Ludwig AI confirms, this is a standard and acceptable usage in English.

Expression frequency: Very common

Frequent in

News & Media

60%

Science

20%

Formal & Business

10%

Less common in

Academia

5%

Encyclopedias

3%

Wiki

2%

Ludwig's WRAP-UP

The phrase "oil price" is a grammatically sound and highly prevalent noun phrase, signifying the monetary value of oil. As Ludwig AI validates, its usage is correct and commonplace across diverse contexts. Predominantly found in News & Media, it also frequently appears in Science and Formal & Business domains. While authoritative sources such as The Economist and The New York Times employ it, understanding its potential for overgeneralization is crucial. Remember to quantify impacts with data and specify benchmarks for clarity. Alternatives like "petroleum price" offer subtle variations in formality, while related terms like "gasoline price" narrow the focus. This ensures precise and impactful communication regarding this vital economic indicator.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

petroleum price

Replaces "oil" with "petroleum", offering a more formal or technical tone.

price of crude

Shortens "crude oil" to "crude", making the phrase more concise.

crude oil price

Specifies that the price refers to unprocessed oil, adding clarity.

cost of petroleum

Rephrases the term using "cost" instead of "price", emphasizing expenditure.

barrel price

Specifies the price per barrel of oil, a standard unit of measurement.

market value of oil

Highlights the valuation aspect of oil in the market.

global oil market price

Emphasizes the global scope of oil pricing.

fuel cost

Broadens the scope to include the cost of fuel derived from oil.

gasoline price

Focuses specifically on the price of gasoline, a common oil derivative.

energy market price

Shifts the focus to the broader energy market context.

FAQs

How does the "oil price" affect the economy?

The "oil price" influences transportation costs, manufacturing expenses, and overall inflation. Increases can lead to higher consumer prices, while decreases may stimulate economic activity.

What factors determine the "oil price"?

Supply and demand, geopolitical events, production quotas by OPEC, and technological advancements in extraction methods all play significant roles in determining the "oil price".

Which is correct, "oil price" or "price of oil"?

Both "oil price" and "price of oil" are grammatically correct and commonly used. "Oil price" is more concise, while "price of oil" is slightly more formal.

What's the relationship between "oil price" and "gasoline price"?

Gasoline price is directly influenced by the "oil price", as crude oil is a primary component in gasoline production. However, refining costs, taxes, and distribution also affect the final price at the pump.