...Great Impact of Rising FuelPriceFuel is another transportation system component. Rising of fuelprice is one of the major issues facing the transportation industry in Malaysia. Fuel may be gasoline, natural gas, diesel fuel, ethanol, methanol, coal, etc. The costs and efficiency of transportation fuels are considerable interest. (Joseph Sussman; Introduction to Transportation Systems; Transportation System Components; 2000). Fuelprice volatility along with overall priceincreases has been an issue with transportation carriers, airlines, and even some water carriers and is a continuing challenge to the financial viability, causing some carriers to file for bankruptcy. Overall, it can be argued that is a manifestation of world demand and the supply of crude oil. The demand for oil as a source of energy to power transport equipment and for private use has been growing steady, but crude oil is limited natural resource. New oil fields have been discovered since World War II, but the known available supply of oil has not kept pace with the increased demand. Consequently, the general trend for fuelprices has been upward. This trend in price has been exacerbated by the location of the best oil fields in distant countries and the disproportionate share of...
Money is always an issue in today’s era of materialism. Most people need it for basic survival while the lucky few indulge in luxuries without worrying about money. In my opinion, I strongly agree that the rising fuel price has pushed up the price of other consumer products and this will surely affect the society. In this essay, I would like to touch on the effects this price increase has on society today, were increasing vice activities, widening the gap between the rich and the poor and affecting the population trend in the long term.
First and foremost, society will immediately be affected by the rise in fuel prices because consumer products will be more costly and this leads to an increase of vice activities. This is because basic necessities such as rice, flour, sugar and so on will be in great demand and some warehouses will store or hoard the items to further increase the price of the product. Moreover,in the newspapers today, reports of smuggling of these items prove that this vice activity is other rise.
For example, the recent sugar price hike caused a furor among the Malaysian society a sit costs more fuel to travel to and from the supermarket and when arriving, most places had run out of stock even though the government had allocated 2kg of sugar to one person. Therefore,the fuel price increase had definitely caused more hardships to society today. Secondly, it is undeniable that the rise in fuel prices leads to the widening of the gap between therich and the poor. This is due to the fact that people are greatly affected by the price of basic necessities such as food and fuel in particular.
Furthermore, the rich people will still be able toafford such things but the poor will face greater challenges as the popular saying goes: “The richget richer, and the poor get poorer. ” For instance, when money is used to purchase consumer products that are necessary for survival, then less money will be spent on health and dental check-up, educational purposes and others. Thus, it is clear that the fuel price hike will further stress on the differences between the rich and the poor which is such a tragedy. Last but not least, in the long term the population trend or demographics of the society will be greatly affected.
This means that new families will consciously decide not to have too many children in order to increase their quality of life. In addition, society is now more aware of birth control and family planning so this will greatly reduce the population as most families will have 1 to 5 children instead of more. Take for example, new families with less children will surely spendless on basic necessities like food, clothes, transport and many more. Hence, the demographics of the whole country will be affected and this in turn will reduce our workforce which will affect our country’s productivity and prosperity.
In short, there are many short term to long term effects of a fuel price increase which includes more crimes like hoarding and smuggling will occur and this leads to the widening of the gap between the rich and the poor as well as a change in the society’s demographics. I still strongly believe that the rising fuel price has pushed up the price of other consumer products and this will surely cause a negative impact to society. The government must find a way to stabilise the fuel price at a reasonable rate so that it does not affect the productivity of this country towards achieving the aspirations of the nation for Vision 2020.