One of our day to day needs includes gas and its prices are tending to rise upward at an uncontrollable rate. Apart from refueling our cars for our personal usage, the rise in prices do affect us in many ways which include the price hike in all essential commodities. We are to witness this rise along with the recovery of the economy after a fall.
According to the sources from the Energy Information Administration, the average national price of gas per gallon is about $3.88 dollars which is about 9 cents up since the last two weeks. Not to forget that even the diesel rates have gone up to $4.09 which is considered to be the highest in the last three years from July 2008. Gasoline and Diesel prices are up by a dollar when compared to the last year.
No matter of the car you own is a Honda Insight or a Toyota Prius, the heat will soon hit you as it is expected that the shippers are to hike up the fuel fees and there by on all consumer goods .
Every means of shipping from airlines to trains, from truckers to door delivery services all are looking for compensation with a service charge price hike in their service. The example of this renowned effect of price hikes was in 2008, caused an economic crisis in US. The worst effects were felt later the same year.
Nielsen Wire market researchers serve to predict that gas is only going to be up by 50 cents and a household that is typical would cost only $52.50. But the research does not include various factors like that of the behavior of the consumers and also the economy. The research summary was a prediction of numerous economists.
With the rise in fuel prices, shippers have chosen their transports by train over trucks, which is likely to reduce the costs. But it is said even the train companies are starting to feel the heat. It is quoted that the Union Pacific has paid 33 percent more for fuel than the previous year’s first half on comparison of the first half of the current year.
When it comes to the truckers, rules have been enforced strictly on fuel consumption as to reduce fuel wastage. On the growing trends and an irritation with the trucking companies is to bring up price hikes for sure for all shipments which is to include the destination fees of vehicles.