Record Gas Prices Impact Local Business

Gas prices are high everywhere, but California is suffering from the highest prices in the United States. When the cost of filling the gas tank forces more and more people to make basic economic choices between driving and other basic goods and services, like food and medical care, you know things are bad. The emotional and psychological impact of gas prices reaching, and in some locations, exceeding $5 per gallon takes its toll on the Golden State’s collective psyche.

High gas prices also impact business which counts fuel expense as a growing component of their financial picture. Higher gas prices translate into higher transportation and delivery costs, as well as higher end product costs. Increased spending on fuel and transportation costs prevents businesses from investing for growth, funding research and development, or taking other steps to remain competitive and expand opportunities.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Peter S. Bauman - Senior Commercial Litigation Attorney Callahan & Blaine, (714) 241-4444 (office) / (949) 842-1720 (mobile) | Attorney Advertising

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