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High oil prices due to the Iran war weigh on everything from the gas pump to consumer goods

The Independent·Mae Anderson·about 1 month ago
#VG8unYTv
#prices#fuel#food#cost#diesel#photo
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Pain at the pump. Higher postal prices. Flights canceled, costlier airplane ticket prices and baggage fees. Everyday items such as soap and toothpaste getting more expensive. Consumers are paying for the Iran war 's disruption of global energy production as the conflict enters its third month. Steeper gasoline, diesel and jet fuel prices are making driving and air travel more expensive. Many companies warn there's more to come: the cost of fuel and of materials derived from petroleum could drive up food prices and for other household items. Iran has closed the Strait of Hormuz to oil tankers, keeping them pent up in the Persian Gulf and away from customers worldwide, while a U.S. Navy blockade is preventing Iran from selling its own oil. Prices surged overnight on worries that the war will affect the flow of crude for a long time. Here’s how the growing cost of oil and gas is impacting consumers.…

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