Pain at the Pump

By Krystal Shull

May 1, 2011 Updated May 1, 2011 at 11:24 AM EDT

INDIANAPOLIS (Indiana's NewsCenter) - With gas prices now north of $4 a gallon, concerns about a double dip recession are rising among Hoosier businesses and consumers.

Ball State Economist, Mike Hicks, tells Inside INdiana Business the spike in gas prices could have bottom line impact. He says unemployment, which sits at 8.5% right now, is at its lowest level in 3 years but could increase to more than 1.3%. According to Hicks, state revenues, which are finally heading in the right direction, could take a $60 million hit.

Professor Hicks joins Gerry Dick with more on this issue.

Watch Inside INdiana Business with Gerry Dick Sunday morning at 11 a.m. on ABC.

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