Quote from: Ultegra134 on Today at 09:34:56 PM

Quote from: lucates on Today at 05:27:06 PM

Quote from: Franctoshi on March 24, 2022, 08:26:47 AM

The situation I believe is currently hitting almost every country due to sanctions impose on Russia and hence causing supply shock.
here in my country due to the hike in price of fuel recently though we're one of the oil blessed nation, it has drastically increased the price of transportation and base on past experiences, whenever the price of fuel is increased in my country it usually affects the price of goods and commodities , so this price hike has even worsen the case here coupled with the current inflation ravaging the Economy. But all this for my view is coinsidently happening to help shift the world's dependency on fossil fuel and into Greener energy they have been advocating for years now.

We do not expect gas prices to ease this year. Because of the Russia-Ukraine war. And also the World Bank warns the global economy may suffer 1970s-style stagflation. Even electric vehicles and green energy have their own disadvantages; they need high expenses and high technology, so they will take time. So the government should initiate temporary solutions like reducing tax rates etc.

It's been a while since I posted on this thread but wanted to make an update anyway. I don't get where you're seeing a possible ease on oil prices, there was a decrease in global prices the previous weeks but it was short-lived. We're already above $105/barrel of Brent oil. I'm certain that gas prices will remain at current levels for the whole 2023, unless the war, the sanctions or both end (both are unlikely).