Everybody Is Talking About The Cost Of Gasoline – Soon Everybody Will Be Talking About The Cost Of Food

by Michael Snyder,The Economic Collapse Blog:

For most people, the price of gasoline is the most obvious consequence of the war in the Middle East. As I write this article, the average price of a gallon of gasoline in the United Statesis $4.56. Of course in some parts of the country consumers are paying much more than that. This is a big story, and the truth is that gasoline prices are going to go even higher in the months ahead. But if you think that the price of gasoline is bad, just wait until you see what eventually happens to food prices. The price of diesel has been rising even faster than the price of regular gasoline, and fertilizer prices have been absolutely skyrocketing. Those costs will get passed along to the rest of us. It is just a matter of time. Meanwhile, our farmers are dealing with drought conditions that are unprecedented and now a “Super El Niño” is coming.

TRUTH LIVES on athttps://sgtreport.tv/

What all of this means is that food prices will rise to very painful levels.

So even though everyone is complaining about rising gasoline prices at the moment, one prominent economist is warning that“the next story is food”…

The cost of food in the U.S. appears poised to rise sharply alongside oil prices, as war-related supply disruptions put pressure on the companies and farmers who keep the country’s shelves stocked.

“The big story right now is oil,” economist Justin Wolfers told MS NOW on Tuesday. “The next story is food.”

Oil prices have risen over 50 percent since the conflict began on February 28, pushing gas prices to a nationwide average of over $4.50 for the first time since 2022.