The global fuel energy price index stood at 186.04 index points in June 2024, up from 100 in the base year 2016. Figures increased that month due to greater natural gas demand. The fuel energy index includes prices for crude oil, natural gas, coal, and propane.
The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.
Monthly fuel energy price index worldwide from June 2022 to June 2024
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IMF. (July 3, 2024). Monthly fuel energy price index worldwide from June 2022 to June 2024 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1302801/monthly-fuel-energy-price-index-worldwide/
IMF. "Monthly fuel energy price index worldwide from June 2022 to June 2024." Chart. July 3, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1302801/monthly-fuel-energy-price-index-worldwide/
IMF. (2024). Monthly fuel energy price index worldwide from June 2022 to June 2024. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1302801/monthly-fuel-energy-price-index-worldwide/
IMF. "Monthly Fuel Energy Price Index Worldwide from June 2022 to June 2024." Statista, Statista Inc., 3 Jul 2024, https://www.statista.com/statistics/1302801/monthly-fuel-energy-price-index-worldwide/
IMF, Monthly fuel energy price index worldwide from June 2022 to June 2024 Statista, https://www.statista.com/statistics/1302801/monthly-fuel-energy-price-index-worldwide/ (last visited July 22, 2024)
Monthly fuel energy price index worldwide from June 2022 to June 2024 [Graph], IMF, July 3, 2024. [Online]. Available: https://www.statista.com/statistics/1302801/monthly-fuel-energy-price-index-worldwide/