Shoppers faced a surprise jump in grocery inflation last month after four successive months of falls, as experts warned there was worse to come if there was prolonged war in the Middle East.
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For now, the national average for regular gas remains just below $3 a gallon. But prices at the pump usually trail oil by days or even weeks, since stations adjust gradually. Here’s the concern: About 20% of the world’s oil passes through the Strait of Hormuz, a narrow shipping route near Iran. If tensions continue and shipments slow further, drivers could start to feel it just as spring break and summer road trips ramp up.
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