Governments and experts warn that shortages and price spikes could affect essential household goods.
Gasoline
It shouldn’t come as a surprise that gasoline is one of the first things that American families are recommended to stock up on. After all, the U.S. Energy Information Administration states that the Strait of Hormuz carries a major share of the world’s oil shipments, meaning that even a partial disruption can push prices up rather quickly.
Data from Reuters found that Brent crude oil rose above $100 during the conflict already, and that will have a knock-on effect of higher gas prices across the United States. It’ll only take a few weeks to see those prices at the pumps, so you might want to stock up now.
Propane refill cylinders
Sure, propane cylinders may only seem like something for the backyard, but many people forget that the same shipping route moves a lot of Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG).
This includes the propane you might be using for your grill or patio heater, as well as your RV tank.
A disruption to energy shipments often causes these supplies to tighten, and it may be a good idea to start saving up on propane refills. Household cooking-gas prices have already increased, and supply trouble is likely on its way.
Don’t leave refilling your propane cylinders until the last minute.
Generator fuel and stabilizer
Anybody who has a portable generator at home should remember to stockpile fuel stabilizer as well as fuel. After all, your generator won’t be much help if the fuel runs out.
Reuters reported that refined fuel prices have changed quite a bit already, but the fuel stabilizer will help you keep your stored fuel usable since gasoline degrades over time.
It’s something that the federal government recommends, as they suggest you should keep backup supplies for outages, whether your generator runs on gasoline, diesel, or propane.
You might want to lock in before the local price hikes spread even further.
Motor oil
Another thing that’s easy to miss is motor oil, despite the fact that it’s rather close to the gasoline supply chain because it’s refined from crude oil. Oil and transport cost increases during conflicts often lead to lubricants rising in price at the same time. It’s mostly because retailers are forced to reprice their inventory.
Families with older cars and those with long commutes or road trips ahead should buy an extra jug now. You never know when you’re going to need it during this time of geopolitical disruption.
Prescriptions
Most people don’t realize how much medicine supply chains rely on air cargo routes through the Middle East.
According to Reuters, the Iran conflict has already caused problems for a few pharmaceutical flight routes that are used to ship sensitive treatments over to the United States. Such delays may lead to issues for time-sensitive medication, should the conflict continue.
It’s well worth filling any regular prescriptions you may have early, and especially for anything that you can’t miss for a few days. You really don’t want to run the risk of being out of medication before the supplies arrive.
Diesel Exhaust Fluid
Quite a lot of modern diesel engines require something called diesel exhaust fluid (DEF) in order for them to meet emissions standards.
DEF contains automotive-grade urea, which, as you might’ve guessed, comes from the same fertilizer supply chain running through the Middle East.
It’s something that families with diesel pickups or vans can’t ignore, nor can those with an RV. Modern diesel vehicles won’t run properly without having DEF in the tank, and that’s hardly something you should wait around to happen.
Lawn and garden fertilizer
Speaking of fertilizer, while it might seem quite far removed from conflict in the Middle East, global trade says otherwise.
Reserves have been tapped, and shipments have started tightening due to the Strait of Hormuz conflict causing disruptions to the supply chain. However, it’s not something you may notice immediately.
But you’ll see the impact in the garden stores weeks after the market disruptions have started, as many fertilizers rely on energy-intensive production methods. Companies also use global shipping methods to get these products onto American shelves.
Aluminum foil and canned drinks
It’s easy to think that aluminum is completely unrelated to the Middle East. But the truth is, a lot of aluminum comes from the Gulf, and the conflict in Iran has already delayed shipments from Bahrain and Qatar.
These issues have led to aluminum prices increasing, alongside costs for American buyers.
Really, aluminum is something that we use in so many everyday products, including foil and drink cans. Increases in the cost of raw aluminum often cause the price of household packaging products to rise as well, so you may want to stockpile some supplies to get ahead of it all.
Bottled water
You need PET, a petroleum-based plastic resin, to make plastic water bottles. To nobody’s surprise, that means that surges in oil prices cause the cost of producing bottles and caps to increase as well, with Reuters reporting that water producers are already facing higher material costs.
They have to pay for expensive polymers and packaging inputs. On the positive side, bottled water lasts a long time, so having a large supply of it now should serve you well in the future, too. You’re always going to need water.
Plastic food-storage bags and wrap
Plastic food-storage bags and wrap rely on the same polymers that bottle water does, and the Iran conflict has caused polymer prices to soar.
These include all sorts of household food-storage products. As a result, families who portion bulk groceries should perhaps think about buying ahead to avoid any issues from the Iran crisis.
Waiting around could mean that you end up paying far more for plastic storage than you would’ve done a few weeks before. It’s not like you won’t make use of the storage materials, either.
Sources: Please see here for a complete listing of all sources that were consulted in the preparation of this article.
Research points to 10 items you shouldn’t buy in bulk
Buying in bulk usually feels smart. But then half of what you stored goes bad before you ever had a chance to use it, mostly because a lot of everyday items don’t age well at all. Here are ten things you should avoid stockpiling because they expire so quickly. Which of these has gone bad for you before?
