But your petrol costs a lot less than ours in the UK Jed. The predicted figure I quoted is about 18 dollars a gallon. Also, you might raise your price, but wallets are only able to stretch so far. Unfortunately music is not a necessity and already over here people are travelling less and cutting back on non essentials. I too work on a guarantee against a percentage but I'm sure fewer people will be coming to my gigs with fuel and food prices constantly increasing. Also cd sales are bound to fall. Hate to be a prophet of doom, but i've worked through economic cycles before and this is by far the worst one for travelling musicians since the folk revival began back in the 60's.
However, good luck over there!