Experts warn gas prices will have trickle down effect on LI economy

Long Island residents feeling the squeeze at the pumps may soon be shelling out more money at other locations. Experts are warning that increased gas and fuel prices will have a trickle down effect

News 12 Staff

Apr 25, 2006, 11:03 PM

Updated 6,661 days ago

Share:

Long Island residents feeling the squeeze at the pumps may soon be shelling out more money at other locations.
Experts are warning that increased gas and fuel prices will have a trickle down effect on the rest of Long Island?s economy, raising the prices of nearly all goods and services. Many delivery restaurant owners say they have already added delivery surcharges to help cover gas for their drivers. Cab companies say they are also feeling the burn, and many have added or are planning on asking for fuel surcharges.
Experts say the high energy costs function as a consumer tax, raising the price of anything that is transported. They say those higher prices, in combination with reduced spending money available to consumers, could be devastating to the economy.
Related Information: GasBuddy.com GasPriceWatch.com Daily Fuel Gauge Report News 12 Long Island Gas Gauge


More from News 12