Your laundry bill is about to get more expensive—and Unilever says the Iran war is partly to blame

Consumers may be feeling the effects of global energy disruptions not only at the pump but also on laundry day. 

Laundry detergent and cleaning supplies often contain petrochemicals derived from crude oil, and as passage through the Strait of Hormuz remains restricted, oil shocks are now impacting myriad household goods.

Consumer goods giant Unilever will likely hike up the costs of certain home care products, Chief Financial Officer Srinivas Phatak said on Thursday.

“There will be frequent price increases, but in small doses,” Phatak told analysts at the company’s earnings presentation. “That ensures that we get the right balance of giving value to the consumer while protecting our margin.”

Phatak said the cost increases would be between 2.7% and 3.3% this year due to inflation and other factors. The company expects full-year cost inflation to be between 750 million and 900 million euros ($876 million to $1.05 billion), about 350 million to 500 million euros ($409.5 million to $586 million) higher than initial expectations. These estimates assume the cost of crude oil remains at about 100 euros or $115 per barrel. ........

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