5 Surprising Ways Oil Prices Affect Our Everyday Lives

The effects of oil prices are more far-reaching than most people realize. That's because petroleum permeates nearly every corner of our economy. For example, just recently it was revealed that low oil prices were going to hurt elderly Americans in particular. Last week, the federal government announced it will not increase the cost of living adjustment (COLA) for fiscal 2016 due to low gas prices. Here are four other less-considered ways the price of oil impacts our lives... Tags: cost of oil , dropping oil prices. rising oil prices , high oil prices , low oil prices , NYSE: CVX , Oil , oil price , Oil Prices , price of oil , when oil prices fall , when oil prices rise To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post 5 Surprising Ways Oil Prices Affect Our Everyday Lives appeared first on Money Morning - We Make Investing Profitable .