10 Things Homeowners Could Pay More for Because of Rising Gas Prices
The impact of higher gas prices will be felt much further than just at the pump.
Rising gas prices have everyone feeling the pinch at the pump. Gas prices have been increasing steadily over the past few weeks, and they are only expected to continue to rise for the foreseeable future. Sadly, the increased cost to fuel your car isn’t going to be the only impact of higher gas prices. Rising fuel costs can have a domino effect. The cost of many other products and services is also likely to rise in the coming weeks and months. Continue reading to prepare yourself, and your wallet, for some of these added expenses you may incur.
1. Lawn Care with Gas-Powered Equipment
If you have any gas-powered lawn equipment, such as a lawn mower or leaf blower, be prepared to spend more money to keep them running. While these pieces of equipment don’t require as much gas as you’ll need to fill your vehicle tank, the cost can add up quickly over multiple uses.
2. Lawn Care and Landscaping Services
Prepare for your landscaping company to start charging more for their services. Not only do they need to pay for the fuel to power their equipment, but they will also be paying more for the gas needed to get their trucks and trailers to your location. According to Angi, some companies have already raised their prices by about 20 percent compared to last year. Additionally, while many lawn care companies frequently provide free estimates, this service may go away due to the increased cost of driving to your property to provide the estimate.
3. Furniture and Other Product Deliveries
Expect to pay more for deliveries of furniture, appliances, and other goods. It is going to be near impossible for many delivery companies to keep their delivery rates consistent given the increase we’ve already seen in gas prices along with the additional forecasted price increase still to come.
4. Fueling a Generator
Generators can come in handy in the event of a power outage from a thunderstorm or natural disaster. However, they won’t do you much good unless you have enough gas to keep the generator going. Keep in mind that most 5-kilowatt generators require about 18 gallons of gas to operate for 24 hours. It is easy to see how much more expensive it will be to stockpile the fuel needed for your generator.
Related: How Long Does Gasoline Last?
5. Repair Services
The cost of repair services, such as plumbers and electricians, may also increase. These service professionals will be spending more money to fuel their vehicles, which are often large work trucks and vans. They’ll need to pass on some or all of the price increase to their customers to continue to make a profit for their work. According to a recent survey of Angi pros, nearly 75 percent of home services businesses plan to increase their rates due to rising gas prices.
6. Building Supplies
Building supplies will also be getting more expensive. Manufacturers will need to pay more to move these goods across the country to deliver them to a store or supplier. This also means that hiring a contractor to complete a remodeling or renovation project will also be more expensive due to the materials they’ll need to purchase for your job.
7. Oil Heat
If you warm your home using oil heat, be prepared for a large bill the next time you have your tank filled. Between February 21, 2022 and March 14, 2022, the average cost of heating oil in the United States increased by nearly $1 a gallon. That means that filling a 275-gallon oil tank went up an additional $275 in just those 3 weeks.
The groceries you purchase are shipped to your local store from all over the country, and even the world. With increased gas prices, manufacturers will be increasing the cost of their goods to help offset how much they are spending on shipping. Prepare yourself to see the cost of food and personal care items continue to rise in the coming weeks and months.
9. Food Service Delivery Fees
If you use any grocery or restaurant delivery apps, it is likely that the service or delivery fees will also be increasing. App developers will need to charge users additional fees to help cover the increased gas prices that their drivers are paying. Without finding extra money to pass on to their drivers, these apps would likely face a driver shortage.
10. Petroleum-Derived Products
Petroleum is used for more than just fueling a vehicle. It is also used for making a variety of everyday items, such as plastic containers, cosmetics, carpet, tires, insulation, roofing shingles, and plastic toys. With the rising prices of crude oil, consumers should expect to see the costs of these items increase as well.