Washington: The surge in fuel prices triggered by the ongoing Iran war is beginning to ripple through the United States, with higher transport costs feeding into broader price pressures.
The report said the US and Israel have been waging war against Iran since February 28, and the conflict has continued for over a month. Disruptions to crude oil supply have led to shortages and a rise in global prices.
As a result, petrol and diesel prices in the US have increased noticeably. The impact is spreading beyond transport to sectors such as agriculture and construction, and is now affecting other industries as well.
E-commerce major Amazon is planning to add a 3.50% fuel surcharge to its pricing from April 17. Separately, the US Postal Service has sought permission to impose a temporary 8% fuel surcharge on parcel and express mail deliveries to manage rising costs.
If approved, the postal surcharge would be in effect from April 26 until January 17 next year. Economists have warned that sustained increases in transport costs are likely to be reflected in the prices of other goods.
