Tentative US‑Iran peace deal may lower oil prices, but consumer costs remain high, reports say
A tentative agreement to end the Iran war exists and could reduce oil prices, yet price increases and supply disruptions persist, and higher costs are expected to linger.
A tentative deal to end the Iran war exists, and a US‑Iran peace deal may lower oil prices, kctv5.com reported.
kctv5.com reported that gasoline, groceries, airline tickets and other items became more expensive during the conflict, and that fighting over the Strait of Hormuz disrupted supplies of crude and refined fuel as well as supply chains for fertilizer, food and footwear. The outlet also noted that even after oil starts flowing again from the Middle East, it could take a while for consumers to see a difference at local fuel pumps, supermarkets and other places they shop.
According to kctv5.com, businesses expect higher costs to linger, and Brett House said it is not clear that anything has been achieved that makes the American consumer better off.
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