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[[File:Oil prices to gas prices graph.png|upright=2|thumb|[[West Texas Intermediate]] (WTI) oil prices and gas prices]]
{{main article|World oil market chronology from 2003}}
{{further|2000s energy crisis}}
From 1999 til mid 2008, the price of oil rose significantly. It was explained by the rising oil demand in countries like China and India.<ref>{{cite news|url=https://www.nytimes.com/2007/11/09/business/worldbusiness/09oil.html|title=Rising Demand for Oil Provokes New Energy Crisis|first=Jad|last=Mouawad|date=November 9, 2007|publisher=|accessdate=March 25, 2018|newspaper=The New York Times}}</ref>
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