The Iran war's toll on small businesses

The Iran war is about to hit small businesses — and your wallet
As diesel and fertilizer costs soar, farms and truckers warn consumers will soon feel the pain

By Russell Payne
Staff Reporter
Published April 24, 2026 6:30AM (EDT)


(Salon) The oil price disaster triggered by President Donald Trump’s ongoing war against Iran is about to crash into small businesses in the U.S. and around the globe — and while the energy crunch is putting pressure on their bottom lines, consumers will ultimately be footing the bill.

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The situation has translated into drivers paying much more at the pump, with gas prices topping $4.00 a gallon on average in the U.S. — a jump up from under $3.00 a gallon in February. Diesel prices have rocketed up to $5.40 on average, up from around $3.80 in February, which could have further-reaching consequences for industries that rely on that specific fuel.

Truck drivers are obviously seeing the most immediate effects of diesel costs. However, Todd Spencer, the president of the Owner-Operator Independent Drivers Association, told Salon that the price truckers pay to fuel up is ultimately passed on to the businesses they deliver for, at least in the vast majority of circumstances.

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What this means in practice is that the businesses receiving shipments cover the high cost of diesel and that those businesses are left to make decisions on how to recover those costs. Many had hoped that the Iran war would come to a quick enough resolution that businesses would not have to raise prices as a result, but as one JP Morgan analyst said Thursday on Bloomberg Radio, these costs are already “rising sharply” with no end to the war in sight. ................(more)

https://www.salon.com/2026/04/24/the-iran-war-is-about-to-hit-small-businesses-and-your-wallet/