Rising fuel prices cause ripple effect on other goods
National gas prices are at a record $4.25 a gallon. The jump comes just one day after President Biden announced a ban on Russian energy imports.
The rising cost of oil is having an impact on more than just gas prices.
We have all been feeling this at the pump, and that certainly makes it more expensive to transport products and goods — just think of all of those diesel trucks.
However, oil is also used for other products. You will find petroleum derivatives in the plastic in your smartphone. Fertilizer is also impacted, so that means you’ll likely see a price increase on things like produce at the grocery store.
While you may be paying more for your groceries or that new smartphone, you may also see a bigger bill at the pharmacy.
Petrochemicals are often used in the creation of medications, even over the counter products like burn ointment and allergy pills– and pharmacists say they are seeing the impact.
Hear one of those pharmacists talk more about how it could impact you by watching the video of Sam Hesler’s story.