Gas, groceries and back-to-school items are where shoppers might see higher oil prices surface
Summary
Oil prices went over $100 per barrel because of new fighting in the Middle East. This rise in oil costs may cause higher prices for gas, food, and school supplies for shoppers.Key Facts
- Oil prices passed $100 a barrel on Thursday.
- The increase is linked to renewed conflict and military attacks in the Middle East.
- Higher oil prices follow a brief period of lower costs since June.
- Brent crude, a global oil price benchmark, last hit $100 in May.
- Rising oil prices can lead to more expensive gas, groceries, and back-to-school goods for consumers.
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