$100 Oil Prices Fuel Higher Costs for Gas, Groceries, Shipping

Oil prices surged past $100 a barrel on July 23 due to renewed fighting and military strikes in the Middle East, leaving consumers to feel the pinch.

The elevated price marked a turn from lower oil prices enjoyed briefly when hostilities between the US and Iran waned in June. Brent crude, the international standard, last reached $100 a barrel in May.

Companies that produce and sell fresh food, school supplies, and goods that rely on fuel for transportation reported cost impacts from an earlier spike in energy prices.