Economic Impact on Gas Prices Gas prices are up over 40 cents a gallon from this time last year. What impact will that have on the overall economy? A recent USA Today poll showed that 55 percent of people who make under $20,000 a year consider gas hikes a “financial hardship.” Only 30 percent of people who make $50,000 a year called the increases a hardship. If the recent gas price increases reflect the state of the economy in the …showed first 75 words of 292 total…

…showed last 75 words of 292 total…company in Texarkana, Ark. has not increased taxi fares in 13 years, but that will now change because of the huge dent in company profit. Taxicab companies, with approval, will start implementing a $1 surcharge to cover the abnormal gas prices. Airline industries are also implementing a $20 surcharge because of the artificially high fuel prices. Shipping companies are charging retail companies more for the shipping. As a result, the increased costs are passed on to the consumer.