Iran war could drive up food prices, shipping costs, and more
As the war with Iran continues, gas prices have surged, and it's been a rollercoaster on the stock market, but there are other price swings at play that might be less obvious.
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As the war with Iran continues, gas prices have surged, and it's been a rollercoaster on the stock market, but there are other price swings at play that might be less obvious.
United Airlines has cut down of its flights temporarily due to rising jet fuel costs amid the U.S.-Israel war with Iran.
The president threatened to "obliterate" Iranian power plants if Iran didn't reopen the Strait of Hormuz by late Monday night Eastern Daylight Time.
Stanford economists estimate that the typical U.S. household will spend an additional $740 on gas this year because of the jump in global oil prices.
These charts track prices consumers pay for groceries and other goods now compared to five years ago.
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump Monday morning.
The increase comes ass global oil prices surge amid the escalating conflict involving Iran, a key player in the world's energy supply. Darius Johnson reports.
At a Shell gas station at Armitage and Damen avenues near the Kennedy Expressway Monday morning, prices hit $4.69 per gallon. Darius Johnson reports.
The war with Iran is causing gas prices to surge, with motorists in Chicago and around the country guaranteed to feel the impact at the pump Monday morning. Darius Johnson reports.
Crude oil surpassed $114 a barrel as the Iran war impedes production and shipping.
There's no relief in sight for drivers at the pump as the war in Iran is directly driving up the cost of gas. Analysts expect more of the same unless something changes soon.
CBS News Business Analyst Jill Schlesinger has some information on how the war against Iran could affect finances and gas prices, and what you can do to protect yourself.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
Drivers in the Chicago area can expect to start paying more at the pump this week, as oil prices have spiked amid the U.S.-Israeli war on Iran.
Iran controls part of the Strait of Hormuz, a critical shipping lane where about 20 million barrels of oil flow every day, and it’s the world’s sixth-largest oil producer.
If approved, the average customer would pay an extra $10 to $11 per month.
Some local gas stations as of Tuesday afternoon were posting prices of $4 per gallon for regular unleaded, and more than $5 for premium.
An outage at the BP Whiting Refinery in Northwest Indiana during drenching storms last week is believed to be connected to the spike. Sara Machi reports.
Gas stations as of Tuesday afternoon in Chicago were posting prices of $4 per gallon for regular unleaded, and more than $5 for premium. Sara Machi reports on why that's happening.
An Illinois representative has introduced legislation to tax road mileage as the state sees less revenue from the gas tax.
An Illinois representative has introduced legislation to tax each mile you drive as the state sees less revenue from the gas tax.
While the tariffs on Mexico and Canada have been paused, there was still concern late Monday about what happens next month if the tariffs go ahead in a month.
The tariffs in Canada and Mexico were paused Monday, but gas and lumber are two of the big commodities that would potentially be impacted if they go ahead. Megan Hickey reports.
President Trump's tariffs against Mexico and Canada have been paused, but there is concern about the effects in particular on the gas and lumber industries if they go ahead. Megan Hickey reports.
On Monday, President-elect Trump specifically promised a 25% tariff on all products coming from Mexico and Canada—in addition to a 10% levy on Chinese goods.
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