The fighting in the Middle East has impacted more than just gas prices; the rise in the cost of oil is also hitting the overall economy, affecting travelers, business owners and shoppers.
Shoppers in the Bay Area have noticed a spike in prices, even for things that seemingly would have nothing to do with the cost of oil.
“I just came for vegetables and fruits, simple items, you know? I was thinking like 20 bucks, and it’s 40. It’s like double,” Tomo Sasagawa said, after staring at his receipt at a grocery store.
“You have to make a product and then you have to transport that product to a location where consumers can buy the product, and then the mere transportation of that product to where consumers can purchase it, is going to be more costly,” said SJSU Business Professor Caroline Chen.
The price of a barrel of oil has risen by 50 percent on the futures market since the war started. Those planning on going on a short trip or a long trip have to consider there is one thing they can’t plan right now; the cost. Largely, because it is unknown how long the war in the Gulf will last.