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To study the relationship between oil prices & inflation.: ‐

Oil prices and inflation levels are frequently regarded as linked in a connection between cause and effect. When oil prices
rise, inflation, which is the gauge of overall economic price trends, is moving in the same direction. Inflationary pressures
on the other hand begin to lessen as oil prices decline.

Oil and inflation are connected because oil is a major economic input — utilized in key activities such as heating and
transport — and as input costs increase, the cost of end goods should also be increased. For example, if the price of oil
rises, plastics will cost more, and a plastics business will transfer to the customer some or all of this cost, therefore
increasing prices and creating inflation.

In the 1970s, when oil expenses increased from nominal prices of $3 before the oil crisis of 1973 to $30 immediately after
the oil crisis of 1979, the direct link between oil and inflation was apparent. This helped boost the CPI, the primary inflation
indicator, to more than double that of 41.20 in the beginning of 1972 reaching 86.30 by the end of 1980.

CHAPTER 4: ‐ FINDINGS & SUGGESTIONS

FINDINGS: ‐

1. Although the world economy is sinking. There is constant need for oil and natural gas.
2. Oil prices have had a huge impact on the Indian economy for decades now.

SUGGESTIONS: ‐

a﴿ India being an oil‐importing economy development, an intensification in international oil prices shocks can prime to
inflation and exchange rate shocks. The stockholders may use valuable metals to privet against inflation and currency
hazard.
b﴿ This is the case for a less diversified oil‐dependent economy that is sensitive to both positive and negative external
shocks. In order to fulfill domestic demand, the less diversified economy tends to import the most consumer and industrial
products from other nations. Consequently, the economies of petroleum exporters are correspondingly affected by
changes in oil prices affecting foreign economies.
c﴿ A resource‐dependent country, therefore, has to expedite economic diversification measures to alleviate the social
and economic costs of foreign shocks. In this respect, safeguarding macroeconomic stability will boost trust in the native
currency, attract domestic and international investment and encourage sustainable economic development, especially with
regard to exchange rates and price stability

CHAPTER 5: ‐ CONCLUSION
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The worldwide price of crude oil has a major influence directly or indirectly on global economies. However, the increase in
costs of crude oil causes nearly all goods to be consumed and consumed to rise. Any favourable changes in the price of
crude oil have negative effects on a country's GDP growth. The Indian economy is no exception to the effect of crude oil
price changes. In India, demand for items associated with petroleum is rising quickly, leading to increased imports of crude
oil. When crude oil prices climb, a shock or impetus is evident that opens up a method of improving systems for energy
efficiency to minimize dependence on petroleum goods.

The Indian oil and gas sector has played a major role in the economic growth. There are three primary sectors in this
sector. The price of crude oil fell due to output on the worldwide market. The Indian government has taken a few efforts to
develop the country's oil and gas fields. The demand for crude petroleum is strong. Petrol has many households’ usage in
India. In India's activities, thus, increased crude oil prices would influence.
 

Matched Source

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Title:The Impact Of Oil Prices On Inflation ‐ UK Essays
Apr 13, 2017 — He tries to study the relationship between oil prices and inflation and also want to know what are the causes
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https://www.ukessays.com/essays/economics/the‐impact‐of‐oil‐prices‐on‐inflation‐economics‐essay.php

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Title:The effects of Oil Price Shock on the Indian Economy – A Study
Jan 9, 2019 — India being an oil‐importing economy development, an intensification in international oil prices shocks can
prime to inflation and exchange ...
https://www.preprints.org/manuscript/201901.0087/v1/download