Surging Gasoline Costs Unsettle Asia as Inflation Poses Challenge [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
In Asia, South Korea has taken steps to ensure a steady supply of the key fuel while tracking prices, and Japan may soon hand aid to local refiners. India, the region's second-biggest oil consumer, has had an unofficial freeze on prices for almost two months ahead of elections in several key provinces. 18 best online deals in the Canadian retail space right now Advertisement “Higher gasoline prices are the most straightforward way for the average guy on the street to feel the effects of inflation,” said Howie Lee, an economist at Oversea-Chinese Banking Corp. in Singapore. “It is also the fastest way to create a spiral of rising inflation pressures. That is why politicians tend to sit up and take notice when gasoline prices rise too aggressively.” Advertisement Article content Gasoline prices are strong from the U.S. to Asia as increased mobility lifts consumption, with crude oil rallying to the highest level since 2014 this month. That's adding to inflationary pressures
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