The Iran War Is Disrupting More Than Oil. Here’s What Could Get Expensive Next

From aluminum to helium to fertilizer, key materials are already seeing shortages that could raise prices on everyday goods.

BY LEILA SHERIDAN, NEWS WRITER

The Iran War has already put upward pressure on oil prices, but its ripple effects are now spreading far beyond gas pumps.

World leaders have already called on citizens to conserve energy, work from home, and more. Yet there are some less obvious impacts that could soon reshape the cost of everyday goods, from soda cans to smartphones to housing. A new NPR story highlights several categories of raw materials that are poised to see price increases. They include:

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Here’s a look at how each could impact a wide array of goods on the market:

Aluminum—one of 60 minerals deemed critical by the U.S.—is used in everything from beverage cans to cars and packaging.

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Since the war began on February 28, aluminum prices have jumped from about $3,050 to $3,411 per metric ton, an increase of roughly $360, or about 12 percent. After Iran struck two major smelters in the Middle East, both of which were major supplies to the U.S., prices hit a four-year high, Reuters reported. 

In fact, some manufacturers have already begun stockpiling aluminum amid fears of further disruption, according to the Financial Times. “If the situation continues, there will be more panic buying,” an executive at an aluminum producer said. “We have lived through crises in the past, but this one is very different.”

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Helium shortages are also emerging, but their impact goes far beyond party balloons.

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