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Central Texas small businesses struggling with soaring fuel prices

Gas prices
Posted at 10:05 PM, Jun 07, 2022
and last updated 2022-06-07 23:05:00-04

WACO, Texas — As gas prices continue to break records, Central Texas small businesses are facing larger costs and smaller profits.

The cost of a regular gallon of gasoline reached another statewide record on Tuesday, more than $4.60 per gallon, per AAA.

Daniel Amador, co-owner of Dan's Transport in Lacy-Lakeview, said his company's fuel costs are up 40 percent in recent months.

"We can't borrow anybody's money, we can't be like, 'Oh, we'll pay you next week because fuel was too much this week.' You just have to cut those profits in half, just about," Amador said.

Shamica Evans, owner of the Waffle Chic food truck located at 901 LaSalle Ave. in Waco, said food trucks have been feeling the brunt of both the rising prices of groceries and of fuel.

"I have to put gas inside my generator, as well as inside my food truck. My food truck runs off of diesel fuel, which right now, is over $5," she said.

In the last week alone, average Texas gas prices are up nearly 40 cents in just a week.

Ed Hirs, energy fellow at the University of Houston, said people shouldn't expect the climb to stop anytime soon.

"If we don't see peace break out in Europe sometime soon, I would not be surprised to see $6 gas in Texas sometime this summer," Hirs said.

The cost of fuel is still in Texas is still cheaper than the national average, which is now more the $5 per gallon, which experts believe will remain the case for at least another week.

In the meantime, small businesses are left to figure out how they'll make it through this summer's soaring prices.

"We have to figure out how we're going to be able to make it," Evans said.