U.S. shoppers should brace for impact of higher oil prices, experts say

TL;DR

Global oil prices have jumped over 40% since conflict closed the Strait of Hormuz, affecting one-fifth of global oil and gas supply.
Rising fuel and energy prices are increasing transportation costs throughout the U.S. supply chain.
Economists predict a sharp rise in inflation, primarily due to gasoline prices, with food prices also expected to increase.
Retailers with lower-value items, such as Dollar Tree and Family Dollar, are expected to be hit hardest by increased shipping costs.
Online shoppers may see higher product prices and increased shipping costs, or higher minimum purchase requirements for free shipping.
Fuel surcharges as a portion of shipping fees have climbed 17% in three weeks.

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