Under normal circumstances, it is visually appealing to see upward moving lines that figure on charts or graphs of varying kinds.
These lines usually send good signals that indicate growth or progress. Economic indicators, however, does not religiously follow this normally accepted code. Charts that depict an upward trend of say, interest rates, does not induce the same euphoria as when someone sees an increase in the quarterly profit of a company of his interest.Along the same vein, the world does not rejoice over the charts that indicate record-breaking gas prices. The anxiety that this skyrocketing trend has caused is truly punishing the world like it never did before.
Such a trend effectuates ebb of connected consequences. Some of them are in fact so crystal, one only needs to aptly notice them: the equally rising cost of basic commodities, the change in lifestyle toward unparalleled frugality, and the renewed interest in finding alternative sources of energy.Effects of high gas prices First, the daily increase in the price of gas translates to an eventual increase in the prices of basic commodities such as food, clothing and raw materials, since these products are moved into superstores or malls with the use of various means of transportation. Surely, the increase of transportation costs would eventually be reflected into the good’s tag-prices almost on a daily basis. It has been said that many farmers, manufacturers and storeowners, who rely on their gas-fueled machineries to help them produce or transport their products on a massive scale, are often financially incapable to absorb the losses that they are incurring.
Ultimately, the consumers are the ones who end up worst hit by this gas-price hike. Second, the rising cost of gas has truly changed the lifestyle of the millions of middle-class families towards frugality. It has been noted that the monitored increase in the prices of goods such as dairy products, fruits, meat, wheat, among others, has made many consumers more meticulous in buying goods. More mothers for instance are spending hard-earned money on groceries that focus on the essentials. Furthermore, family travels and leisure time-outs have also suffered cutbacks.
The rising cost of airfares and holiday packages have made many families to reconsider the necessity of savings money instead. This change of lifestyle has definitely made a lot of people focus more on what they need, and a lot less on what they want. Third, the skyrocketing cost of gasoline prices has indeed pushed many thinkers – coming from both world governments and private entities – to conceive of ways to find alternative sources of energy aside from fossil oil. It is undeniable that the daily increase in gas prices has made many people impatient for solutions.Thus, it is not surprising to see the world now seriously considers spending millions and millions to explore on using alternative energy sources such as geothermal, solar, wind and even nuclear power plants.
Conclusion The daily increase of fuel prices surely grips the world with much fear and worry. As mentioned, it feels the immediate effects of this crisis in as many aspects such as consumption and lifestyle trends, and an overarching mission to contain the problem. Bleak as it may look though, it is certainly not wrong to hope that the world can always expect to see the light at the end of the tunnel soon.
