An attendant holds a fuel nozzle at a petrol station. Oil prices around the world are expected to rise, following escalated tensions between oil-rich Russia and Ukraine.
Energy policymakers need to implement various measures, including a cut in the oil excise tax, to make fuel prices bearable for businesses and households, according to energy analysts.
Global oil prices look set to soar, especially following continued tension between oil-rich Russia and Ukraine. The dispute shows no signs of abating through political means as the US opted to send troops to Poland, Germany and Romania amid growing concern over a Russian invasion of Ukraine, according to media…
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