War's ongoing impact on consumer costs

Reports indicated that the decrease in oil prices following the preliminary agreement between the United States and Iran does not immediately affect fuel prices, airline tickets, or groceries, as refineries need time to produce and distribute products to consumers. Additionally, restoring oil flows through the Strait of Hormuz will take a considerable amount of time, and the impact of the Strait crisis on markets will remain a series of long-term processes. Despite progress in diplomatic de-escalation, pressures on food and shipping prices will persist.

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