As gas prices approach $ 5 per gallon, record high fuel costs increase companies, US economy

As US gasoline prices approach a record average of $ 5 per gallon, fuel costs are shaking through almost every corner of the business, with signs of rising spending beginning to change consumer behavior.

Regular gasoline prices averaged around $ 4,986 on Friday, up about 22 cents from last week and nearly $ 2-a-gallon higher compared to this time last year, according to AAA. The steady rise in prices comes as the US economy’s recovery from the pandemic has unleashed demand for travel, by road and air, and many are returning to work.