as the report was being written the crude oil price per barrel had just hit a new record which was almost four times higher than the price at the beginning of energy price increases and thus volatility are the first thing to come to mind for onethird of europeans an overview of the price data over the last few years corroborates public concerns about energy price volatility as a multitude of factors do indeed affect energy markets on a continual basis figures almost every source of energy has become a traded commodity with for some fuels an historical world wholesale market oil for example and for others intervention of the energy market liberalisation process that changed for example gas or electricity industry from a government controlled monopoly to a competitive market meaning that customers have the freedom to choose their energy supplier