Some gas stations in Bakersfield have reached six dollars, with other cities in California being even higher. Consumers began to see this price rise following the United States’ entry into the war against Iran.
Dr. Richard Gearhart, professor of economics at Cal State University, Bakersfield, stated that, along with rising gasoline prices, helium and fertilizer will also be affected. According to Gearhart, these impacts will raise grocery prices because fertilizer from the Middle East is being impacted, along with the oil needed to transport the food.
“Under a presidential administration that has essentially caused a lot of negative supply shocks to agriculture already, with immigration and trade policies and tariffs, food inflation of four percent is likely going to be a thing of the past. We’re likely to see food inflation of five or six percent. So that basically means every $1000 you spend on groceries. You’re probably going to be spending about another $100 just because of this war.”…