Washington: The price of petrol in the global market has been decreasing significantly for the last 2 months, but there has been no decrease in the rate of inflation.
However, for the past two months, the petroleum products have been decreasing continuously and rapidly, and crude oil, which was 140 dollars per barrel in March, is now 90 dollars per barrel, while the price of crude oil will increase if the nuclear agreement with Iran is reached. The price is likely to drop further.
Despite a significant reduction in the shortage of petroleum products, there was no reduction in inflation at the global level, while it was believed that the fall in the prices of petrol led to a reduction in the prices of essential commodities.
Experts say that the reason for not reducing the rate of inflation is due to the fear of recession of the businessmen, the instability in the value of the dollar and the decrease in imports due to Corona, which has affected the supply and demand system.
