High Oil Prices Cause Inflation All Around the World

The sudden increase in the oil prices in the United States embarrassed the majority of the people all around the world. In this regard, a complete recession predicted just like a phase of 1930s recession in the United States.

Oil prices reached about $135.09 which has worried all the communities of the world. Today, millions of the people affected due to slum in the industries such as textile, cotton, knitting and woven industries etc. The Asian countries such as Pakistan, India, Afghanistan, Indonesia, Bangladesh and Sri Lanka have been widely slumped in the most recent times. But, the China has still kept its dominance in all sorts of industries all around the world.

The prices of domestic commodities are increasing so much day by day that it has brought the situation of inflation all around the world. The people are agitating, depressing, and irritating due to high increase in the oil and gasoline prices. They are saying that this inflating situation is occurring due to high raise in general prices of gas and oil prices. So, the prices of all other commodities i.e, wheat, rice, ghee, bread, sugar etc have been increased just due to increase in oil prices.

The Asian countries are mostly affecting due to inflation. Among them, Pakistan, India, China, Iran, Afghanistan, Bangladesh, Sri Lanka are highly rated countries in the signs of inflations. For example, the oil prices in Pakistan increased so much that has affected millions of Pakistani in way of depression, agitation and destruction. Starvation, poverty, unemployment, poor and corrupted institutions, injustice has led many Asian countries towards sudden and destructive natural disaster such as earthquake, hurricane, storms etc

The earthquake of 8 October, 2005 in Pakistan and recent earthquake in China are the reactions of natural entities because these countries had been involved around certain kinds of injustice and moral humiliations. In this regard, the religious practitioners are of the view that these occurrences of natural calamities are the signs of day of judgments where people would often see the events of limited and poor economics, societal depression, poverty, unemployment, corruption and injustice.

Amazing it is now to predict the factors of high oil and gasoline prices in the world market. Some say that it is inflation and some others relate it towards the religious and moral decline. But, it is to say very simply that what ever is going to happen that is not fair in the path of good economics all around the world. Therefore, it is a time for the regimes of the U.S and all around the world’s countries to take some serious actions against the high oil prices and over all inflation all around the world.

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