Need To Control Petrol Prices.

After COVID-19, countries of the whole world have suffered the loss of life and money. After the first wave of COVID-19, countries around the world imposed strict restrictions on people going out, after which transport, flights, and businesses around the world were stopped. Due to the shutdown of transport, the consumption of oil has also decreased to a considerable extent, and the price of oil has come down.

After the COVID-19 subsided, people started moving out of the cities to the suburbs as transport resumed around the world and suddenly oil prices skyrocketed. There are various reasons for the rapid increase in oil prices in the world. Among them, one of the reasons is that after COVID-19, transport was restored in the world, and the second reason is that the United States has imposed restrictions on the imports of oil-producing countries like Russia, Iran, and Venezuela. Russia is the world's third-largest oil-producing country, which supplies oil to around 40 to 50 percent of the world's countries.

During the war between Russia and Ukraine, many countries in America and Europe boycotted the purchase of oil from Russia and imposed restrictions on it. Following that, Russian oil imports into the international market ceased. This is why the demand for oil has increased globally. Economically, when the demand for something increases, its price also increases. This is the reason why oil prices are increasing day by day in different countries around the world. In addition, Iran is the world's seventh oil-producing country, which has also been banned from buying oil by the government of former US President Donald Trump since 2018. due to which oil prices in the world have increased.

In the 1960s, Venezuela became the third largest oil producer in the world, after the United States and the Soviet Union, and the first in North Africa, producing 3,410,921 barrels of oil per day. At that time, he was exporting oil to almost 50% of European countries. After 2011, government crises started in that country, due to which the country was divided into two governments. After 2019, all the companies and...