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Gas prices and inflation having big impacts on small business

One local bakery is paying 300% more for what they need
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Posted at 11:33 PM, May 11, 2022
and last updated 2022-05-11 23:33:14-04

TALLAHASSEE, Fla. (WTXL) — Gas prices are surging to a new record. The average price for a gallon of regular in the U.S. is $4.40, according to AAA.

Now, those prices are having a big impact on small businesses in the Big Bend.

The Tasty Pastry Bakery has seen a 300% increase on egg prices over the last year, alone, to make their baked goods. That doesn't include the rising costs of gasoline to deliver them.

"Everyone knows when you fill up a pickup truck it's now costing $100 dollars where it used to cost $60-$65. I have two trucks that need two tanks of gas a week, so that raises the prices again."

Mark Cross is the President of Tasty Pastry Bakery. He says their costs are skyrocketing across the board. Partly, thanks to inflation which currently sits at 8.3%.

"Bakery products are made, most people know, with flower, butter, sugar, those ingredients. All of those staple ingredients have gone up significantly, the soybean oil market has gone up crazy."

With people having to pay more at the grocery store and gas hitting record highs, Patrick De Haan with GasBuddy.com says prices could go even higher!

"It's not impossible that at some point this summer, if things don't turn around, we could see $5."

Meanwhile, AAA can save you money on the road. They recommend combining errands, shopping around for the best gas prices, paying with cash, and following the speed limit.

Cross says they're looking at ways to absorb the costs, so customers won't have to pay more.

"I'm still trying to be hopeful."

His family businesses; a Tallahassee staple for almost 60 years.

"I don't want to price things too high to where it seems too expensive and then they stop buying the bakery goods."

De Haan with GasBuddy says slowing down, even just a few miles per hour on the interstate, can increase your fuel efficiency anywhere from 5% to 20%.