Higher prices for gas, groceries and flights will outlast the Iran war, experts say

A tentative deal to end the Iran war raises questions about when prices for gasoline, groceries and flights will fall, and experts say relief is unlikely to arrive quickly. The disruption of supply lines has lingered beyond the battlefield, affecting fertilizer, food and even footwear, and the conflict has kept costs elevated for households and businesses. Following news of the potential accord, oil prices dipped to about 80 per barrel, down from around 120 at the peak and above 67 before the war. Refineries typically buy crude months in advance, so cheaper oil today does not immediately translate into lower consumer costs. Airlines price tickets based on demand, and fuel costs remain embedded in schedules, making immediate relief unlikely. Analysts warn that returning to normal will be a lengthy process involving many parties and countries, with the opening of the Hormuz Strait being only the beginning of a broader recovery.