Kurt Summers owns two generator-related businesses in Austin, Texas, and rising gas prices affect them differently.
Higher prices at the pump are definitely hurting his company Austin Generator Service, which sells, services and rents generators. Because he constantly has service trucks on the road, gas consumption for the company is high.
"We haven't raised our mileage fees in years and any change in fuel comes right off of our bottom line," said Summers.
If gas prices continue to climb by the end of the year, Summers expects he will have to raise his mileage fee.
Meanwhile, his other company, Load Banks of America, could benefit from rising oil and gas prices. Summers expects the trend to prompt some oil and gas companies to do more exploration for oil.
If this happens his load bank services could be in higher demand. A load bank is a piece of equipment that tests generators, which are needed on drilling rigs. --CC
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