Twin Cities Gas Jumps 30 Cents to $4.44 as Iran Conflict and Tariffs Lift Food Costs
Updated
Updated · CBS New York · May 15
Twin Cities Gas Jumps 30 Cents to $4.44 as Iran Conflict and Tariffs Lift Food Costs
3 articles · Updated · CBS New York · May 15
$4.44 a gallon became the new Twin Cities average after gas prices jumped nearly 30 cents overnight, with Minnesota regular up almost 70 cents over the past month, according to AAA.
Fuel, tariffs and the Iran conflict are also feeding through to groceries: overall food prices are about 20% higher than in 2022, turning a $100 cart into roughly $120.
Ground beef averaged $6.92 a pound versus $6.02 a year earlier, while tomatoes rose nearly $1 a pound, highlighting sharper increases in staple items.
At Le Burger, owner Josh Hoyt said ingredient costs and fuel surcharges are squeezing already thin margins, and he is holding menu prices steady for now despite the pressure.
Are Mideast conflicts and tariffs the real drivers of high prices, or is there more to the story?
With global conflicts driving up costs, what can truly insulate local economies from future price shocks?
How will persistent supply chain disruptions permanently reshape the American small business landscape?