Petrol price rise warning after OPEC oil output cut

Image Source: Forbes In a move anticipated to push prices globally, some major oil-producing nations have decided to reduce the quantity of oil they export. Saudi Arabia and Russia are part of the Opec+ group, which said that it would reduce output by two million barrels per day. The organization claimed it wished to stabilize […]

Lower petrol prices help to slow US inflation

Image Source: NPR Even though the price of gasoline decreased last month, inflation and prices in the US rose at an annual rate of 8.3%. According to the Labor Department, food, housing, and medical care costs increased even though the annual rate decreased from 8.5% in July. A more broad relaxation of the inflationary pressures […]

US inflation eases in July as petrol prices drop

Image Source: The Jakarta Post The pace of rising prices in the US slowed down last month, but they still increased quickly. According to the Labor Department, the annual US inflation rate, which measures how quickly prices rise, dropped from June’s peak of 9.1% to 8.5% in July. Aside from energy, prices for a wide […]