Experts say Iran war fallout will keep gas, grocery and airfare costs elevated

A tentative U.S.-Iran deal has paused the Iran war, but disruptions around the Strait of Hormuz have already snarled supply chains for oil, fertilizer and food. Experts say pump prices, airfares and grocery costs can lag for weeks to months because refiners and airlines buy fuel ahead of time and shipping restarts slowly. WTI has fallen from a wartime peak above $120 a barrel to about $80, but consumer prices may not adjust quickly. Cost pressures on U.S. agriculture, retail and airlines are expected to persist into 2026.