NEW YORK -- There could be a shark swimming in the waters of economic recovery.
High fuel prices are putting the squeeze on drivers just as they start to feel better about the economy. Prices are also forcing tough choices on small-business owners who are trying not to charge more for fear of losing cost-conscious customers. Prices in the Syracuse area range from a low of $3.39 per gallon to as much as $3.53 a gallon according to gasbuddy.com.
Gasoline prices rose 4 percent last week to a national average of $3.29 per gallon. That's the highest level ever for this time of year. And with unrest in the Middle East and North Africa lifting the price of oil to the $100-a-barrel range, analysts say pump prices are likely headed higher.
Analysts and economists worry that by lowering profits for businesses and reducing disposable income for drivers, high gasoline prices could slow the recovery.
That would likely mean less hiring and higher unemployment.
