‘The good old days are gone’: how will US prices stand as war in Iran surges on?

Gas prices are displayed at a Sunoco station in Pittsburgh, Pennsylvania on 2 April. Photograph: Gene J Puskar/AP

As consumers watch the price of gasoline and airline tickets rise, experts say that the war in Iran will continue to drive up prices across the economy.

“The good old days are gone,” said Christopher Tang, a professor at the UCLA Anderson School of Management who studies global supply chain management. “Right now we see the gasoline prices going up, but that is only part of the story. Everything will be more expensive.”