Since 1980s crude oil has seen a surge in its demand and prices worldwide. In the trade market, crude oil is sold in dollars and cents per barrel. Let us look at the current rate it enjoys in the market.
Biofuel is a solid, liquid or gas fuel that is produced from recently decomposed organic material. This is what makes it different from fossil fuels like crude oil. The fossil fuels are made from dead plants and animals that were buried in the earth centuries ago. Biofuels are increasingly being used as alternative fuels to run vehicles and as gas in cooking stoves.
