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5/24/2011 - Gas tops $4 per gallon in eight states


Rising gas prices have dented small business owners' budgets.

With the rising cost of gasoline, businesses have felt the pinch when it comes to fueling their cars. And by the looks of it, the pain won't be going away any time soon.

According to GasBuddy.com, $4 per gallon of gas is the average in eight states, and that number could go up with gas in Washington averaging $3.97. If so, it would join Hawaii, Alaska, California, Illinois, New York, Rhode Island, Connecticut and Washington, D.C. as the most expensive states to fuel up.

At $3.84, gas prices are near their highest levels since July 2008, when they reached $4.11, according to GasBuddy.com. The average dropped to less than $2 per gallon within the same year, but industry analysts aren't expecting a similar price decline any time soon.

What business owners may see, however, is auto insurance savings. According to an analysis conducted by the Consumer Federation of America in 2006, motorists saved between $47 and $94 on their auto insurance by driving less when gas prices spiked before. 

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