‘I’m simply not making any money’: Iran war is squeezing US small businesses | CNN Business

John Andrews, a South Carolina-based chef who runs a meal delivery service, estimates he drives over 100 miles every week to deliver fresh home-cooked meals to his clients. “The economy is killing me on food prices. And gas prices are tough now, too,” Andrews said. “It’s kind of a double whammy. I’m working just as hard as ever, but I’m losing ground here.” After several years of higher operating costs and softer consumer demand, gas prices are climbing as the war with Iran escalates. That’s adding pressure on small businesses, which power the US economy and account for most of the country’s jobs. The average US gas price hit about $3.25 a gallon on Thursday, according to AAA, up more than 36 cents from last month’s $2.89 average. Diesel, which powers big trucks that deliver the world’s goods, has risen even more: According to AAA, diesel prices are up about 11% from last week’s average, surging to $4.16 a gallon from $3.76 a week ago. For companies that rely on driving and deliveries, like Andrews’, the conflict in the Middle East is already cutting into margins as gas prices climb. Although Iran has long operated under sanctions, its oil continued flowin