BiggnightsRising Gas Prices Continue to Have an Effect on the Economy
March 26th 2011 22:04
Sorry, America, but the outlandish gas prices that are plaguing our nation look to be here to stay.
As the United States continues to feel the fallout from the revolutions in the Middle East and Northern Africa, the price of a gallon of gas has climbed as high as $4 in some states. In the last few years, the price of a barrel of oil has nearly doubled.
Though many people think this will only increase gas prices, that is really not the case. The steep hike in transportation costs will surely cause less people to use cars as their main mode of getting around. Any opportunity to use public transportation, walking or biking is sure to take the place of driving.
As this transition slowly becomes more prevalent, other necessities will be forced to increase prices as well.
Unfortunately, most costs will be passed onto the consumer, as we have repeatedly seen during oil crises. The most significant of these are the costs of food and drinks.
Airlines are sure to increase their prices as well, as consumers will likely begin to spend less and save more.
Conservative spending can seriously hurt the economy, and definitely will not help Americans climb out of the recession.
As the United States continues to feel the fallout from the revolutions in the Middle East and Northern Africa, the price of a gallon of gas has climbed as high as $4 in some states. In the last few years, the price of a barrel of oil has nearly doubled.
Though many people think this will only increase gas prices, that is really not the case. The steep hike in transportation costs will surely cause less people to use cars as their main mode of getting around. Any opportunity to use public transportation, walking or biking is sure to take the place of driving.
As this transition slowly becomes more prevalent, other necessities will be forced to increase prices as well.
Unfortunately, most costs will be passed onto the consumer, as we have repeatedly seen during oil crises. The most significant of these are the costs of food and drinks.
Airlines are sure to increase their prices as well, as consumers will likely begin to spend less and save more.
Conservative spending can seriously hurt the economy, and definitely will not help Americans climb out of the recession.
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