The rise in the price of oil affects the way of life of people

The rise in the price of oil affects the way of life of people

The Ministry of Commerce has published the results of a public opinion poll conducted in June 2022 among residents of all regions of the country. The questions concerned adaptation to the situation with the increase in oil prices.

29.23% of citizens use a personal car less, 17.15% change the type of vehicle or mode of transportation, 10.82% change the type of fuel used to refuel the car for gas.

When considering the income range, it was found that people with an income of less than 10,000 baht per month, students and the unemployed suffered the most from the price jump. They started using public transport more than other groups, probably because using public transport can reduce costs as much as possible.

Meanwhile, the three main behavioral changes to reduce spending are a reduction in the use of luxury goods such as bags, shoes, clothing (29.87% of respondents), a reduction in travel around the country (16.92%) and a reduction in the consumption of food outside the home (16.25%).

It is noteworthy that a group of people with an income of 40,000-50,000 baht per month feels more stable, however, if the situation with oil prices drags on, this may lead to behavioral changes in the long term: then they will look for a new job with a large income (54.10%), will use electric cars (15.86%) will change place of residence closer to work (11.76%).

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