Friday , April 16 2021
Breaking News
Home / International Customs / Import, export prices decline on lower fuel prices in Nov 2015
Import, export prices decline on lower fuel prices in Nov 2015

Import, export prices decline on lower fuel prices in Nov 2015

WASHINGTON: According to the US Bureau of Labor Statistics, import prices fell 0.4% in November as compared to a decline of 0.3% in October 2015. The drop was mainly attributed to a decrease in fuel import prices. In November, fuel import prices fell 2.5%, continuing their downtrend. Petroleum product prices saw a decrease of 2.5%, whereas crude fell 3.6%.

Fuel prices have declined sharply by 43.2% over the past 12 months. Declining demand and oversupply have resulted in a decrease in prices for petroleum by 44.5% and crude by 46.1% from a year ago. Fuel is an important import item, and import prices fell 9.4% in November from a year ago.