Relationship between Crude Oil Price Fluctuations and Inflation in Oman (1990-2017)

Abstract

The main aim of this study is to empirically investigate whether there is a link between the crude oil price fluctuations and inflation behavior in the Sultanate of Oman during the time period from 1990 to 2017. So, such paper attempts to check the degree to which oil price fluctuations might have an impact on the behavior of inflation rate in Oman. The importance of this study surfaces due to the fact that Omani economy is heavily dependent on crude oil and that makes such product to play a central role in the life of this nation.