AAA Daily Fuel Gauge Report for Friday, 12/29/23
National Average Price for Regular Unleaded Current: $3.120; Month Ago: $3.246; Year Ago: $3.159. National Average Price for Diesel Current: $4.013; Month Ago: $4.231; Year Ago: $4.677.
https://gasprices.aaa.com/
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Small businesses face rising costs and cautious hiring, even as holiday spending and tech adoption show signs of strength.
According to Bank of America’s 2025 Business Owner Report, many business owners are approaching the next 12 months with cautious optimism, with nearly three out of four expecting revenue increases. But compared to last year, more small business owners expect sales to decrease over the next 12 months, while fewer who run medium-sized firms expect that to occur.
With the holidays around the corner, there are crosscurrents for small businesses. On one hand, consumer spending on holiday items was off to a strong start; on the other, tariff-related costs have surged for small businesses. Despite the pressure, inventory payments per small business client were up 0.6% year-over-year in October, though seasonal retail hiring remains below last year’s levels.
Dockworker union issues 60-day strike notice ahead of potential walkouts on US East Coast (8/12/24)
Last week, the International Longshoremen’s Association provided a legally-required 60-day strike notice ahead of the expiration of the East Coast dockworkers’ contract at the end of September. More than 40,000 port workers are pressing for strike action against the United States Maritime Alliance (USMX) on October 1 if their demands are not met. A strike by East Coast dockworkers would have a colossal impact not only on the profits of the major maritime shipping companies, but, most significantly, on the entire global capitalist economy. The contract covers 36 ports on the Atlantic and Gulf Coasts of the United States, including the port of New York and New Jersey, the second biggest in the country. The Atlantic and Gulf ports handle over 100 million tons of cargo every year from Europe, South America and Asia.