In: Economics
Few years back, gas prices were friendly for the consumers and in many ways they were enjoying their life. People have purchased luxurious cars and traveled long distances. But it could not last long, rising prices have changed their life. There is high demand for gas but the production does not follow to that degree. As gas prices continue to rise, people all over the world forced to change their way of life, they drive less, purchase fuel-efficient cars and use public transport wherever possible.
The increase in food prices have already impacting families and
others and are not likely to improve in the near future. The price
of every food products have increased to its maximum level and
affecting adversely every groups of people. There is high levels of
unemployment, people are facing difficulties to arrange two meals
for their families and these high prices are putting extra burden
on them.
Food prices are creating dire situations in poorer countries as
many of their citizens spend more than half of their income on
basic food products. Increase in food prices can have a devastating
effect on the people of these countries.