Are the price of food, transportaion, Utilities bill affected by Oil Price Increase?

Answer 1

There is very little on this planet whose cost isn't affected by energy costs. Think of it this way: if everyone suddenly went to solar power, including motor vehicles, the price of oil would plummet due to high supply vs low demand, and all related costs listed in your question (misspellings not withstanding!) would, presumably, go down as well, unless, of course, someone finds a way to tax the sun (don't laugh! back in the 80's, there was serious talk about taxing anyone having solar panels in their home or business, because it would take money out of the pockets of the power utilities!!!).

Answer 2

economists estimate that the cost of energy is about 5% of the GDP of the United States.

this means that if the price of energy doubles [up 100%], that you can expect the general level of prices to rise 5%.

***
Of course, about a decade ago, the price of oil was 20. It is now about 90. this is a 350% increase. So you should expect that overall prices are up 17.5% over the past decade just because of this.

In round numbers, that's a 1.6% compound increase per year, or over half of the measured inflation we've actually had.

And all because Congress doesn't want any more energy produced in the US. It's dirty. It's ugly.

Answer 3

My question would be "How could these things NOT be affected by oil prices???