HOUSTON – The price of gasoline could rise again after the Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed to reduce crude oil production by two million barrels starting in November, which means 2% of the world production.
Monetary and fiscal policies in advanced economies, including continued interest rate hikes, could push the world into global recession and stagnation.
The argument is to address the weak conditions of the global economy, an idea that the White House has called “shortsighted” and has responded by releasing about 100 million barrels of crude oil from the national strategic reserve to prevent gasoline prices come down all over the country until firing again, as happened in the summer of this year. But faced with this decision, there are those who fear that the measure will bring with it a domino effect and that if gasoline prices rise again, the prices of everything will rise.
Economic experts say the White House has several alternatives to reduce the impact on consumers, but no one knows for how long.