The article explores how changes in oil prices affect inflation, and how different monetary policies can influence this relationship. By analyzing data from countries worldwide between 2000 and 2017, the study found that oil price shocks mainly impact inflation through exchange rates. It also shows that transitioning to inflation targeting can alter the impact of oil price shocks on inflation. When oil prices rise, inflation targeting reduces the effect, lessening negative impacts. Conversely, when oil prices fall, inflation targeting strengthens the transfer, helping to lower inflation.