Cost of Gas, Inflation and Your Bottom Line - NFIB Video with Bill Dunkelberg

While the price of gasoline has come down recently, long term demand outstrips supply - and that could lead to an inflationary impact on your bottom line. When gas prices rise as quickly as they have -- that is, they've doubled in the past couple of years -- we get some impact on inflation," said NFIB's chief economist in the latest Your Bottom Line With Bill Dunkelberg. Even small businesses that aren't directly engaged in activities like delivery services are impacted by higher gasoline prices, as costs are passed down to customers. While we can take long-term measures such as building more energy efficient cars reduce demand, Dunkelberg said that future costs will decline only if we exploit the reserves we have and look for new sources of oil. "The administration says drilling won't help, but as our experience with natural gas shows, drilling helps immensely," Dunkelberg said. "Utility costs have been declining." --------------------------------------------------------------------------------------------------------------------------------------------------------- NFIB's web series Your Bottom Line With Bill Dunkelberg helps small business owners learn more about what drives the economy and how economic issues affect their businesses. William Dunkelberg, NFIB's chief economist and one of the nation's top experts on small business, entrepreneurship, consumer behavior and consumer credit policy, hosts the series. -------------------------------------------------------------------------------------------------------------------------------------------------------- William C. Dunkelberg has been chief economist for NFIB since 1971. He is currently professor of Economics at the School of Business and Management, Temple University, and served as dean from 1987-94. He was director of the Center for the Advancement and Study of Entrepreneurship from 1991-94. Dunkelberg is a nationally recognized authority on small business, entrepreneurship, consumer behavior and consumer credit policy. He has been an advisor to cabinet officers, a member of the Consumer Advisory Council of the Federal Reserve System and is a past president of the National Association of Business Economists. He has chaired the Census Advisory Committee and is an elected member of the Conference of Business Economists and the National Economic Issues Council. He is also a frequent contributor to broadcast and cable news programs and is often quoted in leading newspapers and magazines. 2:54

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