Assignment On Gas Prices Effecting Our Economy

351 words - 2 pages

In the economy today many things could set it to be unbalanced, just like the gas prices increasing it also has an increase of other products. It is a practice businesses are turning to, trying to re-coup costs, and it could have a domino effect on the economy.If you thought the gas pump was the only place your wallet would feel the pinch, think again. And it costs more to haul the stuff to consumers counting on home delivery. As a result, the company has had to hike delivery charges, particularly to out-of-town customers.For example a company Stucky Brothers are paying more for washers, dryers, and refrigerators. Jim Benninghoff, with Stucky Brothers says, "Our objective is to just try to limit our losses, rather than make additional profits." Everything from garbage haulers to pest control outfits are now tacking on a fuel surcharge.Starting September 1st, Leeper's Lawn Service in Waynedale started adding fuel surcharges to the bills of customers getting their lawns treated with chemicals.Leeper's uses a thousand gallons of gas per week, so a 60% increase in fuel costs has been earth shaking. The fuel surcharge is an attempt to counter the budget drain. Business Professor Matthew Faley says if businesses resist the temptation to pass along all of their higher costs through surcharges, the economy may be able to avoid the bigger negative of skyrocketing inflation.Professor Matthew Faley, with the University of St. Francis says, "It's when we overreact, if you will, it's when we respond to these changing prices out of fear and trepidation, that we find ourselves driving that variation even further." Jim Benninghoff hopes this nuisance situation will force us to be more aggressive in pursuing alternative fuel sources, but in the meantime, expect fuel surcharges to be with us, like them or not.

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