‘The good old days are gone’: how will US prices stand as war in Iran surges on?

The Iran war is adding a fresh inflation impulse via energy: crude has surged past $110/bbl this week as the Strait of Hormuz risk lifts transport and logistics costs, with tankers facing either longer routes or tolls of up to $2m. The article argues this is still early-stage pass-through, with economists warning the shock will broaden beyond gasoline into jet fuel, chemicals, fertilizers and ultimately consumer prices. Corporate pricing responses are already visible. Amazon plans a 3.5% surcharge for third-party sellers later this month, UPS and FedEx have lifted rates and fuel surcharges by more than 25%, and the US Postal Service will add an 8% surcharge from 27 April. Separately, the Independent Grocers Alliance said a 10-15% rise in fuel costs could translate into a 2-4% increase in food prices, with the larger effects likely showing up by mid-summer. For precious metals, the read-through is broadly bullish via higher inflation expectations and geopolitical risk premium, even though the piece does not discuss gold or silver directly. The near-term catalyst is whether the conflict disrupts Hormuz flows further or forces the US and allies to refill strategic reserves at higher prices, keeping energy-led inflation elevated and supporting safe-haven demand.