Soaring Gas Prices Act Tough on Small Businesses

Gas Station

Credit: Coolcaesar / CC BY-SA 3.0

Soaring gas prices in the United States are affecting small business owners the most, considering they are entirely dependent on the fossil fuel to transport goods and services to consumers. Truck and car drivers are now scared to visit a gasoline station as frequent, overnight raise in gas prices is a common occurrence. Overall, United States is witnessing a hammering of rising gas prices which jumped to an average of $3.72 a gallon last week, up by 13 cents from the previous week. California observed a trend that is even more higher, at 4.29 a gallon, up by 26 cents from the previous week.

Small business enterprises such as food truck drivers, plumbers, cabbies, gardeners, carpet cleaners, mobile food owners, florists, etc. feel the pinch more often, since their business dynamics is directly linked to the price of gas. Caught in the middle, they can’t easily increase their prices citing fuel surcharges since their customers are traveling on the same rough road.

Ironically, small businesses are the ones who account for more than half the jobs created in the United States and are the first ones to pick up employees after a recessive transition. While it keeps getting harder by the day, small businesses have no option but to keep on struggling.

 

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