The soaring price of gas means that the average driver would rather spend more money on public transport than on this expensive commodity.
Every time the price of oil climbs, there is a direct knock-on effect for every household as their costs increase, too. It isn’t just the price of putting gas into the family car; absolutely everything that relies upon transport to get to its end destination gets more expensive.
According to some figures, more money is spent in individual households on gas, than on eating out, entertainment and healthcare, and is actually twice the amount that is spent on apparel and services.
It seems obvious that as gas prices rise, people will spend less on luxury items but that has an impact on the overall economy. Less spending is a vicious circle when it comes to the financial well being of a country.
Some industries suffer far more than others in these kinds of situations. House builders are one example. Not only are people not prepared, or able, to take the risk of buying a more expensive home, but the ones who have these homes already are unable to afford them and cannot sell so that they can downsize. Repossessions are more likely, and there is a greater demand on social housing.
Builders are being laid off because the demand for new houses falls through the floor (pardon the pun) and the rollercoaster continues.
Some retailers are more successful than others at times like these. Those selling items that can be enjoyed at home find that they are more popular, as people look for less expensive ways for entertainment so it becomes a teeter totter as things like wine and beer sales increase while at the same rate, bars and restaurants suffer.
Every time the price of oil climbs, there is a direct knock-on effect for every household as their costs increase, too. It isn’t just the price of putting gas into the family car; absolutely everything that relies upon transport to get to its end destination gets more expensive.
According to some figures, more money is spent in individual households on gas, than on eating out, entertainment and healthcare, and is actually twice the amount that is spent on apparel and services.
It seems obvious that as gas prices rise, people will spend less on luxury items but that has an impact on the overall economy. Less spending is a vicious circle when it comes to the financial well being of a country.
Some industries suffer far more than others in these kinds of situations. House builders are one example. Not only are people not prepared, or able, to take the risk of buying a more expensive home, but the ones who have these homes already are unable to afford them and cannot sell so that they can downsize. Repossessions are more likely, and there is a greater demand on social housing.
Builders are being laid off because the demand for new houses falls through the floor (pardon the pun) and the rollercoaster continues.
Some retailers are more successful than others at times like these. Those selling items that can be enjoyed at home find that they are more popular, as people look for less expensive ways for entertainment so it becomes a teeter totter as things like wine and beer sales increase while at the same rate, bars and restaurants suffer.
