Oil impact across the world

The BBC has a brief overview of how the increasing cost of oil is impacting various regions in the world. I rarely drive though I do all of the grocery shopping and can see a difference there. In August, I will get a better sense of the gas prices when I drive for vacation. Three summers ago I borrowed a family car (a Citroen XM which is a mid-sized, no less) and it cost 130 euro to fill the tank back when the exchange rate was closer to 1:30 - 1 as opposed to nearly 1:60 - 1 as it stands today. That was enough to keep me on public transport the rest of the year.

What will be interesting to follow moving forward are the changes (or not) in places such as China and India. US consumers are slowly cutting back but until we see the same in the other big oil consuming regions, prices will remain high.