Oil Prices Consumer Impacts

FILE - Cars line up at the pumps of a Gulf Oil station on the Massachusetts Turnpike near Boston, Sunday, July 19, 2026.

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Gas, groceries and back-to-school items are where shoppers might see higher oil prices surface

Gas, groceries and back-to-school items are where shoppers might see higher oil prices surface

Consumers already feeling pinched since the Iran war started may feel more pain after oil prices pushed past $100 a barrel. The elevated price reached on Thursday marked a turn from falling oil prices when hostilities between the U.S. and Iran waned in June. The last time international standard Brent crude hit $100 a barrel was in May. Companies that produce and sell fresh food, school supplies and anything that gets shipped using fuel reported cost impacts from an earlier spike in energy prices. They’re likely to continue passing some of their increased expenses to consumers.