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Joe Cannamela says, “It affects everybody."
Cannamela is a hard working man. Three years ago the former long haul truck driver bought himself a limousine and started Bada Bing Limo Service. Now he says if gas prices shoot up as predicted, it will hurt at his bottom line.
Cannamela says, “$4.25 is gonna eat at mine, my clients lines."
The Oil Price Information Service expects gasoline to hit a record $4.25 per gallon by the end of April.
Right now Cannamela spends $30 to $50 dollars in gas per job, and he says if the prediction holds true that figure will rise.
Wells Fargo Economist Mark Vitner says the timing makes it even worse, “The run up in gasoline prices is occurring at a time when we're got very high unemployment and we haven't had a whole lot of income growth."
