Higher prices for gas and groceries will likely outlast the Iran war. Here's what to expect in the coming weeks

Prices for gas and groceries are expected to linger at higher levels even if a deal ends the Iran conflict, with refiners needing time to adjust and supply chains to normalize. After the news, oil dropped to around $80 per barrel from earlier peaks above $120, but pump relief will lag due to pre-arranged refinery schedules. Analysts caution that West Coast regions may see slower declines due to local capacity constraints. Airlines, meanwhile, will not immediately discount fares because fuel purchases are made in advance and pricing depends on demand, suggesting a prolonged period of inflationary pressure.