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Cost if gas stays put: $1.4B; High price can drain economy.(gasoline prices effect industry)(Brief Article)
Crain's Detroit Business, May, 2001 by Kosdrosky, Terry
Independent trucker Bob Esler has read how high fuel prices depress local commerce, but he doesn't need a report to tell him that. Several of his colleagues already are losing their trucks to repossession because diesel fuel is almost 9 cents more a gallon than it was at this time last year and 9 percent higher than last month.
``Guys have had their trucks plucked because of fuel prices. Unfortunately, the cost of freight hasn't gone up to make up for that,'' said Esler, corporate secretary for the Owner Operator Independent Drivers Association. That's one example of the $1.4 billion in revenue Michigan businesses stand to lose if fuel prices stay at current levels for a year, according to a study prepared for Crain's by the Regional Economics Applications...
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