Cost of Flights Gaining Altitude
The price of a barrel of crude oil soared to over $145 a barrel in July 2008, and has remained over $100 since February 2008, and the near future doesn't appear to hold a price drop.
To the average consumer eye, crude oil prices affect petrol at the pumps and of course air travel prices.
But rising oil prices have a much wider effect.
For example, transportation or packing services are affected which then has a knock on effect to many products and services.
Take dairies as an example.
Many dairies in the UK have over 1,000 vehicles which get filled with half a million litres of diesel every week.
This can affect company profits and retail prices.
Rises in the price of oil don't just spell higher costs at the pump - they also hit your wallet in many other ways.
Without doubt the worst affected seem to be the airlines.
Whilst trying their hardest to reduce carbon emissions they now face an uphill struggle against the ever increasing oil prices.
So far this year I have taken over 50 short haul flights, and the costs for each journey are rising.
A typical flight between Edinburgh and London (if booked over seven days in advance) would usually cost around £75.
Over the last few months this has risen to around £100.
This isn't just one airline though - this covers several of the UK's major domestic airlines.
Combine this with roadworks up and down the UK, our rail network more packed than ever and house prices dropping like a lead balloon and it's easy to see why the UK public is a little disgruntled of late.
Thankfully there is (a dim) light at the end of the tunnel.
Hybrid cars for example are becoming more and more popular and affordable due to the rising fuel costs.
The reliance on batteries for power helps reduce fuel consumption, thus saving costs.
And it also seems more and more people are taking to the trains.
Figures released in April revealed that the number of miles travelled on the UK rail network reached a record-breaking high of 30.
1 billion during 2007.
As well as increasing congestion on the roads, this is also due to a higher demand for environmentally friendly transport.
This increase in popularity has also crossed the continent.
Ever since the introduction of the new high speed 1 line, Eurostar has seen fantastic growth in passenger numbers.
From the first half of 2008, Eurostar ticket sales were up 25 percent on the same period last year.
Rail passengers were also up 18%.
More interestingly it was travellers from the midlands who contributed most to the increase in Eurostar tickets being sold.
Travellers from Derby increased by 190 percent, with Sheffield, Nottingham and York all up around 125 percent.
So lets savour the higher demand for greener transport and keep our fingers crossed for the airlines and all other industries hit by the oil prices.
To the average consumer eye, crude oil prices affect petrol at the pumps and of course air travel prices.
But rising oil prices have a much wider effect.
For example, transportation or packing services are affected which then has a knock on effect to many products and services.
Take dairies as an example.
Many dairies in the UK have over 1,000 vehicles which get filled with half a million litres of diesel every week.
This can affect company profits and retail prices.
Rises in the price of oil don't just spell higher costs at the pump - they also hit your wallet in many other ways.
Without doubt the worst affected seem to be the airlines.
Whilst trying their hardest to reduce carbon emissions they now face an uphill struggle against the ever increasing oil prices.
So far this year I have taken over 50 short haul flights, and the costs for each journey are rising.
A typical flight between Edinburgh and London (if booked over seven days in advance) would usually cost around £75.
Over the last few months this has risen to around £100.
This isn't just one airline though - this covers several of the UK's major domestic airlines.
Combine this with roadworks up and down the UK, our rail network more packed than ever and house prices dropping like a lead balloon and it's easy to see why the UK public is a little disgruntled of late.
Thankfully there is (a dim) light at the end of the tunnel.
Hybrid cars for example are becoming more and more popular and affordable due to the rising fuel costs.
The reliance on batteries for power helps reduce fuel consumption, thus saving costs.
And it also seems more and more people are taking to the trains.
Figures released in April revealed that the number of miles travelled on the UK rail network reached a record-breaking high of 30.
1 billion during 2007.
As well as increasing congestion on the roads, this is also due to a higher demand for environmentally friendly transport.
This increase in popularity has also crossed the continent.
Ever since the introduction of the new high speed 1 line, Eurostar has seen fantastic growth in passenger numbers.
From the first half of 2008, Eurostar ticket sales were up 25 percent on the same period last year.
Rail passengers were also up 18%.
More interestingly it was travellers from the midlands who contributed most to the increase in Eurostar tickets being sold.
Travellers from Derby increased by 190 percent, with Sheffield, Nottingham and York all up around 125 percent.
So lets savour the higher demand for greener transport and keep our fingers crossed for the airlines and all other industries hit by the oil prices.
Source...