Concerned circles say that when the price of crude oil increases, the price of petrol-diesel increases as quickly as if it is the opposite, the price does not decrease as quickly. There are also doubts about how long the trend of price reduction will remain. Because, US President Joe Biden asked OPEC, the group of oil exporting countries, to increase supply to rein in the price rise. But in reality the opposite happened. The wider OPEC group, including Russia, has decided not to increase the rate of supply growth in September from July-August. There is also the question whether the price will increase again.
At the start of covid when the whole world was in lockdown, crude oil prices fell well below zero. Oil companies face losses. However, after the Russia-Ukraine war, when the price of oil exceeded 100 dollars per barrel, the oil companies suffered.