Gas prices spike as Iran conflict continues, household items and groceries soon to follow
Автор: KOMO News
Загружено: 2026-03-10
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As oil prices surge amid the conflict in Iran, an economist at Western Washington University says the pain drivers are feeling at the pump could soon spread to grocery aisles and household budgets.
James McCafferty, director of the Center for Economic and Business Research at Western Washington University, said gas prices could continue to rise if the conflict in Iran is prolonged, but he cautioned that predicting prices is difficult because many factors affect what consumers pay, including insurance, shipping costs, labor costs, and profit margins. He also pointed to the stock market, noting that oil production company stock prices rose, which he said signals the market expects higher profitability.
Beyond fuel, McCafferty said higher petroleum and energy costs can ripple through the economy because energy is embedded in the cost of many everyday goods.
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