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Conflicts in the Middle East have historically rattled global markets
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The war with Iran is thousands of miles away — but its effects could hit your wallet right here at home.
Conflicts in the Middle East have historically rattled global markets, and this one is no different.
Here’s a look at what could get more expensive if the conflict continues:
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Gas: Iran is a major oil producer. Any disruption to oil supply in the region could cause gas prices to climb at the pump.
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Airfare: Airlines burn jet fuel. When oil prices rise, ticket prices usually follow.
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Groceries: Higher fuel costs mean higher shipping and transportation costs — and that gets passed on to consumers.
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Heating and cooling bills: Natural gas prices are closely tied to global energy markets and could spike.
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Everyday goods and electronics: Supply chain disruptions caused by regional instability can slow shipping and drive up the cost of imported products.
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Shipping and freight: The Strait of Hormuz — a critical global shipping lane — runs near Iran. If it’s threatened, global shipping costs could surge.
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Medications: Many pharmaceutical ingredients are imported. Higher shipping costs and supply chain strain could push prices up.
- Adult Libations: The price of your favorite libation/s is increasing.
- DWI/DUI: The cost of defending these offenses is increasing.