Approximately every industries including agriculture are dependent on oil in one way or other. Oil & lubricants, transportation, petrochemicals, pesticides and insecticides, paints and perfumes etc are basically and directly affect by the oil prices. Aviation gasoline, kerosene, jet fuel, liquefied petroleum gas, lubricants, paraffin wax, petroleum coke and other products are obtain from the processing of crude and other hydrocarbon compounds. The prices of crude are highly unstable. High oil prices lead to increase that in turn increases input costs; reduces non-oil demand and lower investment in net oil importing country.
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