Oil prices surged past $100 a barrel on Thursday amid renewed fighting and military strikes in the Middle East that have left global oil supplies stranded in the region. In the United States, the average price for regular gasoline reached $4.09 per gallon, 15 cents higher than a week ago, with drivers in most states paying $4 or more. This increase in energy costs is affecting the entire supply chain: truckload pricing has hit a four-year high, while diesel prices jumped 51% in the second quarter compared to January and February. The food distribution, air travel and footwear sectors are also feeling the pressure of these rising costs, which are expected to continue being passed on to consumers in the coming weeks.
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