Retail and the Price of Oil
Friday, 22nd July 2016
The remarkable decline in the price of oil has had a huge impact on aspects of the global economy ranging from manufacturing and transport costs to the price we pay for our food. Despite discussions among OPEC members about addressing price levels, the price is still more than 50 per cent below where it was in June 2014. Downward pressure is coming from Saudi Aramco’s announcement of a pending increase in oil production and Iran’s re-entry into the market.