Rising oil prices and their economic impact on Bangladesh in the context of the US-Iran war: a sociological analysis
摘要
The primary objective of this study is to analyze how oil production and export in the Middle East affect the global economy and how fluctuations in international oil prices impact Bangladesh’s economy. The study specifically aims to identify the effects on transportation costs, industrial production, and the prices of essential goods. Conducted as a desk-based research using both qualitative and quantitative secondary data, the study examines the issue through the analysis of existing literature and documents. The research is centered on Bangladesh, drawing data from various national and international sources over recent years, supplemented by historical information to provide a robust foundation. Data were collected from research articles, reports from international organizations, government publications, news reports, and reliable online sources. The collected information is presented through descriptive and comparative analysis. The findings indicate that rising global oil prices significantly impact transportation costs, industrial production expenses, and the prices of essential goods in Bangladesh, placing pressure on overall economic stability. The study therefore highlights that volatility in the global oil market poses a critical challenge for Bangladesh’s economy, emphasizing the urgent need for long-term energy policies and the development of alternative energy sources.