Is the oil price really not rising?



Recently, there were many cases that various items rose sharply due to "soaring crude oil prices ...", but is really the price of petroleum going up? In fact, the result of the shock survey came out that "the price of oil has rarely risen".

Details are as below.
The Real Price of Oil: Dollars, Gold, and the Price of Tea in China

The US Geological Research Institute (AGI) recently submitted a report on the price of crude oil, US dollars and per ounce of gold, and if you create a graph as shown in this report it will be as follows.


A graph of how many ounces of gold is needed for the bottom purple line to purchase 1 barrel of crude oil. A blue line is a graph when purchasing with dollars, and a red line is a graph when purchasing with euros. In other words, crude oil prices are not substantially rising, they are only rising on a currency basis.

According to the AGI report, the rise in crude oil prices in the United States is also attributable to the fact that the value of the dollar is declining, and the rise in crude oil prices is proportional to the fall of the dollar. In other words, if the US dollar remains strong in the world economy this has not happened, but in reality crude oil is being sold and bought in dollars, so it is said that the price of crude oil continues to rise.

In addition, crude oil prices themselves are currently plummeting due to global concerns of recession.

Close-up 2008: Benefits to consumers, yet yet ... The collapse of the oil bubble - Everyday jp (Mainichi Shimbun)

Companies are cautious about price cuts even if crude oil price falls, the impact on the U.S. economy is limited | Reuters

Will price cuts accompany the decline in crude oil prices be made in the future ...? Before that, did not the crude oil price itself have really risen ...?

in Note, Posted by darkhorse