While very few of us think to check the current rate of crude oil prices, the fact of the matter is that every chance in the cost of crude oil makes an impact on our lives.
Here are a couple of examples of how we are affected by the price of crude oil.
One of the immediate and more direct ways our lives are impacted by changes in the costs of crude oil is with petroleum products.
What we pay at the gas tank is directly related to what is happening with the availability and costs associated with the components used to produce our fuels.
You can bet that if the price of crude goes up that the charges at the gas station will also move right on up as well.
Ancillary products like machine oils and oil blends for your engine may also be impacted by long term upward trends in prices.
While the impact is not as sudden as with the rise in gasoline prices, you may still be reeling from the prices increases months later as oil on the shelves of your favorite auto supply store edges up a few cents per container.
This will also mean an increase in the cost of food for us.
This is due to the fact that very few of us are consuming raw fruits and vegetables that are grown relatively close to home.
Most of the time, we are enjoying produce that was carted from clear across the country.
As fuel costs rise, part of the transportation costs are passed right on to the consumer.
Thus crude oil prices will make a difference in what you pay for those apples and carrots that you purchase every week.
These are just some of the more obvious examples of how crude oil prices can negatively impact the cost of goods that we rely on every day.
There are many other examples of goods and services that are affected by a rise in transportation costs.
Watch the daily change in price and not what you see happening around you.