When oil prices go up, car sales, especially those of gas-guzzling models, go down. There's one place, though, where the exact opposite is happening right now: it’s the Middle East where new car sales are booming.
Sure, many countries in the region, like Bahrain and Syria, are facing severe political turmoil, but on the other hand, since oil prices are on the rise with crude oil having gained 6.7 percent over the last 12 months, revenues of local governments have increased accordingly.
Said governments, wanting to avoid uprisings, are injecting cash into the economy increasing their citizens’ income.
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