Just when consumers thought everything was getting too expensive, prices are set to keep on going up. The war in Iran has spiked the price of diesel fuel, which powers many of the large trucks that move goods and parcels across the country, to more than $5 a gallon. This is an increase of $1.20 in the last two weeks, the steepest 14-day increase in diesel prices on record. In turn, that will quickly increase prices for groceries, household items and packages.

It’s not just land-based shipping that will suffer from the diesel price hike. Construction vehicles also use diesel fuel, so as the war in Iran continues, it may affect home building, renovations or infrastructure work across the nation.

As prices for everything go up, it’s a key time to reassess your business costs and determine how to find the money that now has to go toward energy, supply and transportation. Employee stock purchase plans are a benefit for publicly traded companies that have been getting more popular in recent years. They tend to have low upfront costs but can deliver positive long-term results. I spoke with Emily Cervino, head of industry relationships and thought leadership for Fidelity Investments, about why companies should take another look at this benefit. An excerpt from our conversation is later in this newsletter.

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As the Federal Reserve’s Open Market Committee begins its meeting this week, the overwhelming consensus among economists—more than 99% on CME FedWatch—is that baseline interest rates will stay the same. Economic data released over the last week supports that prediction. In January, annual inflation was 3.1%—an increase from December’s 3%, and above the 2.9% estimated by analysts, according to core consumption expenditures data from the Bureau of Economic Analysis. This indicator, well above the Fed’s 2% inflation target, isn’t the only bleak statistic from the federal government last week. The Department of Commerce revised its economic growth estimate for Q4 of 2025, cutting growth in half—down to 0.7% from 1.4%.

All of these statistics showing a slowing economy are from before the war with Iran began, so it’s likely that indicators will keep trending in the wrong direction. Oil prices keep climbing, as the global benchmark Brent Crude index hit $104 a barrel early Tuesday morning, and maintained a triple-digit price as the morning went on, as Iran continues to block the vital shipping lane through the Strait of Hormuz, and another oil tanker reported an attack as it passed through on Tuesday. Average gas prices in the U.S. neared $3.80 a gallon on Tuesday morning, and analysts say they are on track to hit $4 a gallon later this week—even though the U.S. is planning to tap the Strategic Petroleum Reserve. Analysts say gas prices will continue to climb, and likely won’t drop back to pre-war levels, even under the best circumstances, until late this........

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