A few weeks ago, oil prices set by the Energy and Petroleum Regulatory Authority remained the same much to my chagrin - note: oil prices had been declining at that point. Many wondered how every increment in landed cost is quickly matched with a pump price increment but not when the reverse happens?
I won’t go further than this but instead highlight an interesting relationship between oil prices and renewable energy. A recent study by the Organisation for Economic Cooperation and Development (OECD) on this link shows that: One, renewable energy can actually serve as a means of hedging against international oil prices.
