With the imposing subject of fluctuating oil prices making a more and more regular appearance in the news headlines, it is no wonder that many people are concerned about the impact this may have on their everyday lives.
A recent infographic study carried out by Vouchercloud uncovers some interesting facts about how our reliance on fossil fuels affects nearly all aspects of our day to day existence.
The impact of oil price changes has meant that:
- The average car insurance premiums increased by 2% (£12 million) in the final quarter of 2014, which was the first quarterly increase since 2011.
- Americans on average saved £693 per household when the oil prices decreased by 57% in a year.
- House prices in Aberdeen have decreased by 1.5%, as the home of the North Sea headquarters sees a downturn in its economy.
- The research also showed some more unusual truths, e.g. reductions in crude oil prices could drop the price of synthetic condoms, therefore increasing the potential of safe sex.
Read the article online at: https://www.hydrocarbonengineering.com/refining/09032015/infographic-the-fossil-fuelled-economy-400/