The steep rise in the price of crude oil resulting in the high prices of petrol and diesel are contributing to raging inflation across the globe. In just about a year from April 2021, the price of crude oil shot up from a low of $ 30 per barrel touching $ 130 per barrel. The impact is most severe in the US with its humungous number of automobiles on the road. On an average, one in two Americans owns a car and the use of public transportation is poor.
