This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

DENVER (KDVR) — As the Ukraine conflict intensifies, business owners are bracing for a stronger impact here in Colorado.  Any conflict will most certainly cause a continued increase in gas prices, which affects the price of delivered goods and transportation services across the metro area.

Metropolitan State University economics expert Dr. Kishore Kulkarni tells FOX31 just the anticipation of trouble in the region is already causing an effect.

“Russia is one of the largest crude oil-producing countries. The supply of gasoline will be halted, disrupted and disturbed and because of the supply chain collapsing like that, there will be a worldwide effect in increasing prices,” Kulkarni said.

Increased gas prices may also affect the delivery of metals used to manufacture electronics and other types of equipment.

Local businesses are preparing for the start of Denver Restaurant Week, which runs from March 11-20.

FOX31 spoke with Frank Bonanno, the owner of Bonanno Concepts, which operates 10 restaurants in the metro area, including Mizuna, Luca, Lou’s Food Bar and Vesper Lounge.

Bonanno said the price of chicken has increased by nearly $2 a pound over the past couple of weeks.

“You’re learning to just reinvent daily,” he said. Bonanno and his team are adjusting some menu items to avoid passing any costs along to customers.

“We are trying to keep prices reasonable for everybody as we see the prices increasing,” he said. 

Bonanno said many businesses are already needing to excel in flexibility due to shifts caused by the pandemic. His restaurants remain successful due to loyal customers, which Bonanno attributes to the need for good food, relaxation, and “a sense of normalcy.”

Rising gas prices not only affect the supply chain, but services as well.

This week an unnamed rideshare driver told the Problem Solvers many will soon need to make a tough decision, which will affect the companies that offer the services.

“If gas prices go too high then they’ll probably lose a lot of drivers,” he said.

Petroleum industry experts tell FOX31 that the increase in gas prices is now projected to continue for another 18 months.