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the three important reasons for studying history are

to connect the dots to form a picture
to reveal past contributions of civilizations
to connect the past to the present
to memorize important dates, events, and people
to recognize patterns

To connect the past to the present, to recognize patterns, and to connect the dots to form a picture.

The price of oil and inflation are connected in a cause and effect relationship, that is, when the price of oil increases, inflation also increases in an economy. this is because, oil is a major input in the economy, that is, it is used for critical purposes such as fueling of vehicles for transportation, for running of industrial generators and machines, for heating homes, etc.for instance, if the price of oil increases in an economy, it will increase the cost of production for those using the oil in their production processes and they will automatically increase the cost of their products in order to offset the extra costs. this leads to general increase in the prices of products in the market and result in inflation.