CBIA: High Fuel Prices

Hurting State Business

HARTFORD (AP) — High gasoline and fuel oil prices have hurt state businesses, in addition to motorists and home owners, the Connecticut Business and Industry Association said Monday.

The CBIA said a recent poll of its members showed that 76 percent of them are experiencing negative impacts from the rising fuel prices.

The business lobby, which represents 10,000 members across the state, said although the recent steep fuel price increases raise the possibility of more inflation, 53 percent of the polled executives said they expect their companies’ business to improve over the next three months.

The CBIA also said confidence in the state’s lending climate remains strong, despite increases in interest rates during the past year.