‘We’re all affected’: How high gas prices gouge Silicon Valley

Surging gas prices will cut $1.1 billion from household income in Santa Clara and San Mateo counties this year and eliminate 2,600 jobs, according to estimates from a San Jose economic think tank.

A recent report from Joint Venture Silicon Valley shows total economic output in the two counties will drop by $706 million if the current increase of $1.36 per gallon since the beginning of the year continues unchanged through 2026.