How 5 Small Firms Handle High Gas Prices
NEW YORK ( TheStreet) -- Small-business owners with fuel as a major expense are being forced these days to get more efficient. And most say that's not a bad thing.
Surging gas prices have topped the news for weeks as gas prices have crept toward $4 a gallon, with some bearish experts speculating we could see $5 per gallon by the summer.
The unrest in the Middle East, causing crude oil to top $100 a barrel, as well as the United States' reluctance to so far tap its strategic reserves, has been hitting consumers and large and small businesses in the gut.
But several small businesses say that as much as soaring gas prices cut into the bottom line, they're doing everything they can not to raise prices -- yet.Those initiatives include routing optimization, using more fuel efficient cars and trucks, considering other fuel alternatives and, in at least one case, using hedges to offset rising costs. "It definitely makes us look at every line item on the balance sheet and where we can trim," says Melissa Adelaine-Supernault, a partner and project coordinator at Michigan's Adelaine Construction. "It's constantly a balancing act.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV