By Arlenys Tabare
If it was thought that only The increase in the price of American gasoline would be one of the consequences of the war between the United States and Iranit was recently learned that other products, in addition to services, will be affected by the spike in costs, all of this being reflected in consumer bills.
Since the conflict in the Middle East began on February 28, which caused the closure of the Strait of Hormuz and the rise in energy prices, Consumers have been shouldering additional costs.
The cost of gasoline has remained above $4 per gallon for more than a month, and The price of world crude oil rose to more than $100 per barrel, so many oil products began to rise in recent days.
According to the United States Department of Energy, more than 6,000 daily consumer products require petrochemicals and natural gasoline for their manufacture; The list includes: detergents, adhesive tape, aspirin, pillows, shoes, lipstick, computer keyboards, shaving creams, colored crayons, contact lenses, toys, among others.
In this regard, Gernot Wagner, a climate economist at the Columbia University Business School, commented in an interview with CBS that, Although approximately 85% of the world’s oil is destined for flammablethe other percentage is used for the manufacture of other consumer products.
However, the escalation of the conflict in the Middle East threatens another interruption of global supplies such as helium and aluminum used in the manufacture of medical equipment and semiconductor chips and the same for the production of plastics or synthetic materials such as ethylene, propylene, butylene, benzene, toluene and xylenes important for the manufacture of nail polish, repellents, pens, among others.
On the other hand, Another sector that is raising costs is transportation, especially air. Recently, many national airlines have increased airfare prices and cut their routes to maintain costs in the face of rising fuel prices.
Keep reading:
- Trump announces capture of Iranian ship that defied naval blockade and threatens to increase global naval pressure
- Iran resumes “strict” management of Hormuz and blames the US blockade.
- Manufacturing production in the US decreased 0.1% in March
- Trump boasts that he expected much worse oil prices due to the war in Iran
