Tyler Schipper, an associate professor of economics at the University of St. Thomas, spoke with WCCO-TV about how rising gas prices are impacting small businesses. As fuel costs climb, Schipper noted that ongoing global factors, including the war with Iran, are contributing to higher costs and creating challenges for local business owners.
From the story:
With the national average for gas prices around $4, the timing is especially concerning for the floral industry amid the height of Easter and Passover preparations.
“Certainly, my baseline is that we’ll see gasoline prices continue to go up, even if the (U.S.-Israel war with Iran) ended today,” Schipper said.
In the short term, Schipper says “florists with flowers flown in from Colombia” are likely to take the biggest hit to the bottom line.
