By Alex Longley

Brent oil is down more than 30 percent from this year’s high, but you wouldn’t know if you lived in Paris, Mumbai or Accra.

The drop in the global oil benchmark of nearly $128 a barrel coincided with a roughly 15 percent rise in the dollar over the same period. This means that fuel prices remain a major factor driving up the cost of living in most parts of the world.

Powerhouses of oil demand like China, India and the European Union have all seen smaller…