The conflict between the United States and Iran, along with the risk of blocking the Strait of Hormuz, could lead to a significant increase in prices for everyday products.
The rise in oil prices directly influences the costs of petrochemical raw materials, essential in the manufacturing of plastic and other consumer goods.
Stanislav Krykun, the director of a packaging company in Poland, mentioned that plastic suppliers from China have raised prices by about 15% due to higher raw material costs.
Although the effects of the price increase will be felt with a delay on store shelves, specialists warn that basic products, including textiles, detergents, and food, will be affected.
Approximately 79% of petrochemical complexes in the Middle East are located in Saudi Arabia, Iran, and Qatar, and the rise in raw material prices could fuel inflation, particularly affecting lower-income households.
Companies are seeking solutions to reduce costs, but changes require time and resources.
Sources
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