How are higher gas prices going to cost you? More ways you'll feel the impact.
Gasoline prices have smashed a 2008 record and are likely to head even higher, further fueling inflation and hitting consumers and businesses hard.
And the higher prices won't just cost you at the pump! Below are some other examples of how the higher gas prices will hit your wallet.
Business owners who rely on being on the road are seeing no relief at the pump, including landscaping businesses. One Long Island business owner says it is hard to do business without increasing the cost to customers. Click here for more.
Taxi, ride-sharing and food delivery services
Taxi and ride-share drivers say they are feeling the jump at the pump, with one Connecticut driver saying he may think about taking a break or start looking for other ways to make a living.
The higher gas prices are also impacting food delivery services. "Between distributors and gas, it's been tough. But we're here, we're not going nowhere. I normally fill it up, but I can see like a good $10, $15 difference," said Lucas Rodrigues, at Planet Pizza. Click here for more from these businesses.
The price of gas is already impacting the marine industry, as shore towns rely on busy boating seasons. Find out more on how the high fuel costs are affecting boaters.
Normally fuel prices rise in spring and summer, as Americans drive and fly more. Demand could also get a boost as countries continue to shed their COVID-19 restrictions. Those trends suggest that pump prices are heading higher, with demand continuing to outstrip supply. “It's not going to be a good summer for motorists,” says Patrick De Haan, petroleum analyst for GasBuddy.
Rising fuel costs could also impact airfare, just as some sense of normalcy is returning to the travel industry. Here's more on that.
Back to the office
Many who saved on gas for the past two years while working from home are now forced to pay at the pump as they go back into the office.