In fact, you might have to pay even more for those commodities in the coming months.
“It will have global context, impact, beyond anything we’ve seen since World War II,” said David Beasley, executive director of the U.N. World Food Program.China’s new COVID-19 lockdowns are also making it hard for supply chains to recover from the pandemic.
Oil prices dipped a bit this week after Russia said it would ease up its assault on parts of Ukraine, but White House communications director Kate Bedingfield said, “No one shoud be fooled by Russia’s announcement.” “It’s called rockets and feathers, meaning when the price goes up, price per barrel, that means your gas stations prices go up like a rocket. When the price goes down per barrel, the gas station prices come down like a feather,” U.S. Energy Secretary Jennifer Granholm said.
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