Geopolitical tensions with Iran are hitting American wallets hard. Diesel prices have surged to $5.53 per gallon, up from $3.64 a year ago, while petrol averages $4.09 per gallon, the highest since August 2022. Major companies are responding swiftly. Amazon plans a 3.5 percent fuel surcharge on third-party sellers starting April 17, and the US Postal Service seeks an 8 percent temporary surcharge for deliveries. Airlines are hiking baggage fees to offset fuel costs. Federal Reserve officials warn that rising transportation expenses will eventually filter into consumer prices, compounding existing affordability concerns. Experts predict longer-term supply chain disruptions if the conflict extends, potentially creating widespread economic headwinds across multiple sectors.
