Oil and gas prices have risen dramatically this year as a result of under investment and recovering demand.·Higher fuel prices are weighing on global food supply chains, with transportation and farming costs continuing to climb. ·
The hardest hit will, once again, be those living in developing economies that are still struggling to recover from the impact of the pandemic.
The potential for a knock-on effect of rising fuel prices to be felt by other industries is becoming more likely, as oil and gas prices continue to rise to an all-time high, companies are finding it hard to maintain their costs and may have to shift this burden to the consumer any day now.
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