Higher prices for gas don't only impact people at the pump, but is also causing the cost of food to go up because it costs more money to transport it.
Many people aren't going to have as much money left over at the end of the month after buying food and gas. As a result, consumer spending has been dropping, which then impacts the rest of the economy.Do you think the high price of oil is hurting the economy?
Absolutely. Food costs are steadily rising and they will only get higher as gas approaches 5 bucks. Right now, truckers are barely breaking even, so when they all really raise their prices to ship goods, the costs of food, construction materials, and anything else that is transported will go up more and more.
Yes, people are being forced to spend more on fuel and less on the luxury goods they used to.
The price won't being going down in the long-run, buy an electric or Hydrogen vehicle.
Most definitely it is.
IT's HELPIN THE RICH GET RICHER AND THE POOR GET POORHER
Inflation is a real risk
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