If you own a car or a TV, you’ve probably noticed — gas prices are surging to record highs. AAA reported a national average of $4.25 per gallon last week, with gas prices predicted to rise more. This extra cost is adding fuel to an already hot fire for business owners and consumers in the grip of inflation. But is this pressure at the pump going to impact homeowners looking to hire pros for their home improvement projects?
Angi recently polled our pros to find out how this recent spike is impacting their businesses. Over 90 percent of Angi pros say they expect higher gas prices this year and nearly 95 percent say those costs will impact their businesses. Due to surging gas prices, nearly 75 percent of pros say they will raise prices or rates (or already have) to make up for this added expense.
Joshua Belcher, owner and operator at Liberty Landscaping in Knightstown, Ind., used to offer all customers free estimates. But now, due to gas prices, he’s had to start charging for that service and raise prices by 20 percent .
“You want to do the best you can for your customers and give them fair deals,” he says. “But in order to stay afloat, you have to charge for things you used to do for free before.”
About half of Belcher’s customer base has been able to afford the price increase.