With the price of fuel going up, the cost of transportation has also increased. The cost of transportation has doubled making it hard for both business owners and non business owners to operate. Due to the increase in transportation, the price of goods and services would also have to increase, cause transportation is needed to move these goods from one place to another.
Effect of high cost of transportation
- Thread starter eldavis
- Start date
High cost of transportation has a huge impact on the cost of services and commodities in the market just like it is happening in my region Nigeria the price of fuel was hiked therefore increasing the price of transportation and also goods and services.
High cost in transportation is always going to impact on the selling price of any business commodity that a business is dealing on.
I am sure it also affects one's savings who is working for another company because you're going to be spending much on transportation.
Cost of transportation is like the major determinant of the prices of products now. Production might be at a reasonable cost and transportation doubles everything up.
One needs to move with the tide and make adjustments in order to survive. Every one is sailing in the same boat.
When there is an increase in the cost of transportation, expect that the prices of goods will increase, too.
- Thread starter
- #11
Very true, though a lot of people have failed to realize this. They tend to complain when certain people increase the cost of their goods and services.
Prices of the things that we used to produce have all tripled because of the high costs of fuel and transportation.
