Qatar’s minister of energy on Tuesday said the price of crude oil should actually be above $100 a barrel rather at its current price of around $80.

Speaking on Al Jazeera television, Abdullah bin Hamad Al-Attiyah said the price was justified by mounting inflation, a drop in purchasing power and the weakening dollar, newswire AFP reported.

“If we take into account inflation from 1972 to the present day, the real and fair price for oil should be more than 100 dollars,” the newswire quoted Al-Attiyah as saying.

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