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Iran conflict's impact on costs
The article discusses the recent rise in diesel prices, which have increased from an average of $3.56 to $5.13 per gallon following tensions related to Iran and disruption of the Strait of Hormuz. Diesel, as the primary fuel for the country's freight and agricultural sectors, significantly influences supply chains, impacting transportation costs and potentially leading to higher prices for goods, including food. Experts warn that these price increases could persist beyond the geopolitical tensions, affecting inflation and economic stability.
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