Question

prices of oil is decreasing day by day throughout the world but in India prices are increasing why???​

Answer 1

Answer:

Hey mate here is your answer.//

Explanation:

Why does the price of oil fluctuate so greatly?

As with any commodity, stock or bond, the laws of supply and demand cause oil prices to change. When supply exceeds demand, prices fall and the inverse is also true when demand outpaces supply. ... The excess supply of oil caused oil prices to fall sharply.

How does rising oil prices affect the economy?

Oil price increases are generally thought to increase inflation and reduce economic growth. In terms of inflation, oil prices directly affect the prices of goods made with petroleum products. ... Increases in oil prices can depress the supply of other goods because they increase the costs of producing them.

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