FAYETTEVILLE, Ark. (KNWA/KFTA) – Eden Garrett owns Edens Flower Truck and Botanicals.
Garrett has a storefront in Fayetteville but runs her business primarily out of her truck.
A business model which hasn’t been fun with rising gas prices.
“It normally costs about $80 to fill; now we’re seeing it at $120 to fill the flower truck,” says Garrett.
Bringing the flower truck to the pump isn’t the only price increase she has seen on her end; she’s also noticing a problem with wholesale.
“Normally, I would say the same order would cost $150 to $200; this week, it was $300 because of transportation prices for them getting flowers shipped in,” says Garrett.
A problem that’s not specific to the flower industry.
Economist for the University of Arkansas, Jeff Cooperstein, says that with rising gas prices, we’ll notice price increases like these in every supply chain.
“Oil shock that we are going through right now is going to trickle down through the economy,” says Cooperstein,
To keep her business afloat, Garrett says she can’t be the only one eating the cost.
“So all of our prices had to raise,” says Garrett.
Cooperstein says one of the most interesting things he and his colleagues have been talking about is while wholesale prices should increase over time, it’s too soon now to be seeing the effects now.
So what he believes were noticing right now are companies testing to see how much people are willing to pay.