Wednesday, July 02, 2008

Price of Gasoline

Gasoline price hit ¢149.9 yesterday, driving people crazy. S. J. who works for the Ministry of Transportation of BC said that many road projects have been cancelled. It’s anticipated that the number of vehicles will dramatically drop. It’s said that 100,000 less vehicle will be driven in BC, next year. The prospected Surrey-Vancouver highway is the one which is never going to be under construction. It’s said: It’s not supposed that the one who lives in Surrey, works in Vancouver and vice versa.
So why is the price of oil and its products going up? There are different answers to this; the most accepted one is high market demand. And how this new high demand has been emerged? We now that major manufacturers in the world started shifting their facilities to Asia a few years ago. Nike and Adidas are good examples. Everything you buy these days in Canada, no exaggeration, almost everything is made in China. So a large group of people, probably millions, are getting rich and this has made a huge demand for cars, food, clothing and other things which used to look luxury to them.

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