Gas prices have risen dramatically in Nevada this year, and businesses and consumers are all feeling the pinch. Here are seven ways business owners can deal with the issue.

1. Go Virtual if Possible

Many businesses learned during the pandemic that a virtual work environment is completely doable, even if they had never considered it previously. While this doesn't work for some business types, other companies have the potential to save an unlimited amount of gas money by skipping the commute. This can be a major benefit to employers and employees alike.

2. Try Hybrid Options for Employees

Even if you don't find a fully virtual work environment preferable or feasible, you may still consider a hybrid strategy where employees are able to work from home part of the time. Any days that don't require a commute will translate to more money in employees' pockets, and likely higher job satisfaction.

3. Cut Down Driving

Try to make fewer trips. Take care of multiple appointments or tasks in one outing rather than frequently coming and going, and see whether commonly used items, such as office supplies, can be delivered. If your business makes deliveries, try to cluster them together as much as possible.

4. Reduce Delivery Area

Another tip for those who make deliveries is to reduce your delivery area. This will reduce the miles your drivers will have to travel and save gasoline. However, you'll need to evaluate whether or not these savings are worth the risk of possibly losing business from those who no longer fall into your area. Will they come to you or will they go to your competitors?

5. Use a Gasoline App

You can save on gas by finding filling stations that are selling it for less. The best way to do this is to make use of a mobile app that lists current prices at stations in your area. Check the app before you set out to fill up and find the best price possible without having to travel too far. There are a variety of apps of this nature in the major app stores and multiple sites on the web.

6. Adjust Your Prices

If gas prices are getting to be too big of a problem, you may have to take more drastic measures and make adjustments with your business, such as changing prices for your products or services. Give this careful consideration, however, as you don't want to alienate customers, who are already seeing prices increase for many of the things they spend money on.

7. Find Other Expenses to Reduce

Find other expenses that can be reduced. Perhaps you're paying for software, which you could cancel in favor of a free or cheaper alternative. Maybe you can save on your energy bill by ensuring all computers are turned off at the end of the workday. Anywhere you can reduce spending can help you better deal with higher gas prices by offsetting the increase.

The rise in gas prices can make things more difficult for small businesses, but they don't have to be unbearable. Try any or all of the above tips and make some adjustments. Some of these might continue to be beneficial even if gas prices drop in the future.


The information provided is presented for general informational purposes only and does not constitute tax, legal or business advice. Any views expressed in this article may not necessarily be those of Nevada State Bank. Nevada State Bank is a division of Zions Bancorporation, N.A. Member FDIC