Inflation raising prices at many of LA's food trucks

With record-high gas prices impacting every area of his business, every day is a challenge to stay open for Jesus Valencia. 

"It's too expensive," he said. 

Valencia, the owner of Samurai Hibachi Grill, said he opened in downtown Los Angeles last year because of his passion for good food. But with inflation driving the cost of gas higher and higher, the price to operate his beloved food truck may cause him to drive away from the business.

"We got to pay our employees, spend money on food, gas," said Valencia. "So for us sometimes it's nothing, it's really hard." 

Before gas prices spiked, Valencia said he paid about $140 to fill up his food truck — now, he says it's close to $200. But even as his truck and generator continue to guzzle up gas, Valencia said that most of the pain is coming from rising food costs. 

"Everything about food is expensive, so even in the stores sometimes they don't have what we need," he said.

On average, Valencia pays $20 per pound for meat since he uses high-end cuts like filet mignon and prime rib.

The consumer price index showed that the price of beef has increased nearly 21% from last year. In addition to the rising cost to transport food, the lack of competition — in many industries — has driven the prices up even higher. 

"There's no competition in the meat pack," said consumer watch dog Jaime Court. "There's no competition in gasoline so the fact we got rid of competition in industries over the last 10 years makes it more than likely prices are going to stay high even though they don't need to."

With no relief coming soon, Valencia said all he can do is take things day by day. 

"It is really hard," he said. "We don't know what's going to happen tomorrow. Next week, the gas, it could go up more. Meat, everything can go up so we don't know."

To ease the pain, Valencia has raised the prices a little and breaks even on some days. But when gas prices rise, he said fewer customers stop by.