Small Business Hit By Gas Hike

Crude oil prices, which have tripled in the past three years, climbed 4 percent this week to $69.03 a barrel. They hit an all-time high of $70.85 on Tuesday on the New York Mercantile Exchange.

Rising gasoline prices have a flow-on impact on businesses be they large or small. Gasoline prices soared to well over $3 a gallon in many parts of the United States after Hurricane Katrina slammed the New Orleans and the Gulf Coast. The hurricane shut down most of the region's oil production and refineries. Gasoline had sold for about $2.60 a gallon before the hurricane hit.

For all the outrage from U.S. drivers are still paying much less than drivers in Europe. Smaller cars and shorter commutes are the norm in Europe with petrol prices roughly $6 a gallon in Britain.