Oils prices go down, but…
The fuel price was around $146 plus per barrel a few weeks back. But at present it is going down significantly. It has come down even below $90 per barrel. When the price of oil was spiralling up, suddenly bus and other transport owners increased the fares. When the reason behind setting higher fuel prices no longer exists, the prices should be lowered by the authorities concerned and this should lead to reduced transport fares.
The same holds true about the essential commodities in the market. The sellers increase the prices but do not bring them down when the prices of different commodities fall in the international market.
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