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The fuel consumption ratio, which is increasing at an alarming rate, has caused several problems from a global perspective and also environmentalists are concerned about the pollution and its effects on global warming. Fuel prices have also been increasing steadily on the other hand and it has had effects on almost all the sectors where transport is involved. There is no sector that does not have the need of transport in the world. Right from production to the supply of consumer goods, food and beverages and clothing is dependent on the transport industry. The rising fuel prices have shot the prices up in all these segments and the end customer is the one who has to shell out more money to meet his daily living needs.
Until now the major supplier of fuel and oil was Iraq and Iran. With the war and the aftermath of the war in these countries, oil production has hit an all time low increasing the prices of all other commodities. The rising fuel prices are not helping the global economy either and every country is plagued with recession as it is. The transportation statistics of the world is pretty high in spite of all these evident problems. The transportation industry mainly consumes petrol and diesel and the high demand from the industry and shortage in supply is causing the high prices of oil.
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