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This poll has completed. It ran from Dec. 29, 2014, 10:02 a.m. through Jan. 6, 2015, 11:52 a.m.
Are you experiencing the impact of falling oil prices on the world market?
BACKGROUND
The world is experiencing a fall in the prices of oil prices for many reasons-reduced economic activity due to warfare, the adoption of new advanced technologies that do not need oil, and some countries like America importing less oil because they have now discovered oil in their own region. All this has been made worse by oil producing countries like Saudi Arabia refusing to reduce production, leading to excess supply.
Falling oil prices are good and bad for the world economy and mostly affect countries which depend on oil revenues to run their economies like Nigeria, Saudi Arabia and Angola. For the non oil-producing countries like DR Congo, Rwanda, etc, the fall in oil prices is good because it reduces the costs of petroleum.
Oil affects every day of our lives because we use its products for lighting, power generation, transportation, powering machines and others. Kerosene used for lighting in most rural areas of Uganda is a product of oil. Diesel and petrol used in powering vehicles is a product of oil.
Therefore, the fall in global oil prices is expected to reduce on reduce on fuel prices and transport costs, hence reducing on the costs of doing business
Question
Are you experiencing the impact of falling oil prices on the world market?
A. No, because the price of kerosene is still the same
B. Yes, because the price of kerosene is reducing
INSTRUCTIONS
Go to Messages on your mobile phone. Type LIFE followed by your district, then your answer. Feel free to leave a short comment. Send this to 8585. This SMS is TOTALLY FREE OF CHARGE.
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