Gas prices have hit a four-year high in the U.S. Fueled by increasingly expensive oil, the cost of gasoline has been steadily increasing in recent years. In May 2018, the price of premium gasoline averaged 50 cents higher than regular gasoline in 2017.
Rising gas prices can have a negative impact on small businesses that rely on vehicles to conduct business operations. The rising cost of filling up company fleets is coming at the detriment to small business owners, forcing many to cut costs in other areas of the business. As Jason Boyne who owns three Goodbye Graffiti franchise businesses says:
“The biggest cost for us is filling up the trucks. The rising price of gas means the costs get translated into higher costs for consumers.”
“It also affects my ability to give raises to my staff,” the small business owner added.How to Save Money when Gas Prices Are High
If rising gas prices are negatively impacting your small business, take a look at the following ten ways your small business can ‘fight back’ and save money when gas prices are high