Various factors have led to the remarkable increase we have been seeing at the gas pump, such as a shortage of oil supplies, as well as the impact of the Russia-Ukraine War. It also doesn't help that the prime summer travel season has begun, meaning more people will be forced to accept those high gas prices in order to go on their pre-planned vacation.

The average price for a gallon of gasoline continues to break records and experts don't see the rise stopping anytime soon. As of Tuesday morning, AAA says the average price for a gallon of gas is around $4.17. Locally we are below the national average, topping out around $4.09 a gallon at noon on Tuesday. Besides setting an average high, this recent run also set a record for the biggest jump in price over the past seven days, at 49 cents.

American's will be receiving checks as a result of the recent stimulus package but how will the economy be impacted? Americans will be receiving checks up to $1,200 to help deal with the effects of the Coronavirus pandemic. Dean of the Dicke College of Business at Ohio Northern University said this money should be used as more of a "lifeline." Past stimulus packages were used to put money right back into businesses hands. The dean said this money should be used to hold people over with bills and payments. With the possibility of online shopping he said he hopes people realize the value of spending in their communities first.

We've talked about the businesses that have struggled during the pandemic, but one dean at Ohio Northern University said some businesses are thriving.

The dean of the college of business said the businesses that make home-life comfortable will profit. He said pizza delivery is seeing an uptick in business, and certainly delivery services like amazon are receiving all sorts of purchases. Things such as entertainment media, exercise equipment, cleaning supplies and the supply chain transportation services excel from this. All the businesses that make people happy to be able to stay in one place.

It’s hard to believe that this is what the ONU campus looked like just a few months ago. For more than a week now professors and students have been at home adjusting to the new norm of online classes.

While some fields have had an easier transition online, others that require hands-on participation like engineering, found it a little challenging at first. This is especially the case after moving into the new state of the art James Lehr Kennedy Engineering Building last year.

As the coronavirus continues to spread, companies are allowing employees to work from home. This may sound like fun, but many could find themselves becoming unproductive. Although working from home can help keep you safe from the virus, it can also be distracting. Those distractions include interacting with family, streaming platforms and being on your cellphone. Business experts say working from home can be difficult for older employees because of the lack of socialization.

Schools and businesses are not the only things being affected right now by the coronavirus. It has also taken a huge toll on the economy. This past weekend, central banks cut the interest rates to help soothe the markets. But instead it caused the DOW to drop over 1900 points Monday. This is the lowest it has been since May of 2017.

The longer the strike the more costly it can get. Dr. John Navin of Ohio Northern University says the shorter the better when speaking about the United Auto Workers strike on General Motors. Negotiations stalled over the weekend as union leaders are fighting for more pay, health care, and job security. Navin said as long as it's settled soon there won't be a whole lot of impact. But if this strike lasts for weeks, then suppliers become affected and trickle-down effects start to occur.

The U.S. is seeing an economic indicator that has come before every recession over the last 50 years, but an Ohio Northern professor says there's no need for alarm. The country has been looking at what is called a yield curve inversion for the last three months - that means that long term interest rates are paying out less than short term rates. This is a trend that has preceded an economic recession for the last half-century. Dr. John Navin, Dean of Economics at Ohio Northern University, says that the length of the inversion is unusual, but with the current state of the economy, he doesn't believe that a recession is necessarily right around the corner.

Trade talks with China have hit another snag that ended up affecting the stock market. President Trump threatened to raise import taxes on $200 billion worth of Chinese goods if the two sides can't settle on a trade agreement. The president said he'd raise tariffs to 25 percent from 10 percent. Sen. Rob Portman believes the two sides are close to a deal even with the latest threat. Portman said China is willing to make concessions to things they've never given up before. He said included in that is addressing the trade imbalance and China not stealing intellectual property.