How the Iran war and surging oil prices are affecting consumers at the gas pump and beyond
NEW YORK (AP) — As the price of crude oil surpassed $110 a barrel Monday, reaching heights not seen since 2022, consumers were feeling the effects of the Iran war and its damage to worldwide energy production.
Gasoline prices are climbing, and many people will find some of the most immediate economic pain at the pump.
But you don’t have to drive a car to be affected. Nearly all goods — including food — that are bought and sold must travel from where they’re produced. Those costs will climb with higher gasoline, diesel and jet fuel prices.
And the spike in oil prices will likely be a big factor for U.S. inflation. As the war continues, some experts say the price of, well, everything could be affected.
https://apnews.com/article/iran-war-oil-prices-gasoline-economy-consumers-a5b47c09f83406adf2a00616382003f6
Been there done that. Some folks live and learn. Others just live.