As the violence in Libya continues, fears grow that disruptions will affect the oil supply. In fact, experts say that gasoline prices are expected to stay high for quite a while. These surging prices are sure to affect almost every aspect of the economy including the prices of many goods, how much people make at work, and yes, even the moving industry.
This week oil prices rose to more than $105 per barrel – the highest it has been in 29 months. The current belief is that as unrest in Libya continues, the prices of oil will continue to move in the upward direction. We may be facing $5 per gallon gas throughout the United States this summer.
So, are you wondering how what’s going on in Libya could affect you, thousands of miles away? Well, the price of gas affects everyone. Whether it costs you a few dollars more to fill up your tank to get to work or the moving company more to drive across town, the price of gas affects us all. When the cost of gas increases, the cost of transportation and goods goes up as well.
The chance of gas prices going down is very slim unless we see the situation in Libya calm down as well. Until then, expect to see high prices not only at the pump but for groceries, airline tickets, and just about everything else. So, be prepared. If you are relocating a great distance, watch the airline prices if you’ve got to fly. Or, consider how to make your gas go further by packing light, making fewer trips, and so on.
-Katie Steil
