High Oil Prices and the Economy

How do high oil prices impact you? Sure, we all pay more for gas at the pump, but what about other ways? We haven't seen Wal-Mart raise prices yet, airlines are having price wars in some markets, and food still doesn't cost more; however, that could all be changing soon. As the price of oil rises, expect the price of everything to rise. How do you think Wal-Mart gets everything to its stores? Trucks. What is the largest sigle expense an airline has) besides labor? Fuel. How much gasoline and diesel fuel do farmers go through? Tons. It is only a short time before oil and energy prices start to impact costs in other areas. That is what this article is talking about:

Christie Baker, owner of Flowers on the Green, recently had to hike the cost of a delivery in Guilford, Conn., from $6 to $8 to make up for the higher cost of gas. In La Jolla, Calif., Domino's just increased the amount it pays delivery drivers by a nickel a trip: They now get 95 cents to transport a large pepperoni…. And at Meyers Moving & Storage in New York City, they're now charging $15 more an hour to move from an apartment on the East Side to the West.

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