ORLANDO, Fla. \u2014\u00a0The ongoing war in Iran is causing a ripple effect across the world. In Florida, it\u2019s creating uncertainty in the market, which is leading to unstable prices for all kinds of goods and services.<\/p>\n
What You Need To Know<\/p>\n
LM Industrial said it has not seen prices on aluminum or metal increase yet, but the price of gas has affected its budget
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The price of gas is also what fuels all the other increases that consumers could see at the store
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Everything that has to be transported by truck across the country will go up in price, as it will cost more in gas money to get it there
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The first price increases could be very soon on produce and other perishable items<\/p>\n
Some business owners say they have seen an increase in aluminum prices already. Others say the price increase hasn\u2019t hit quite yet. But just like everyone across the country, they are feeling the effect of gas prices on their budget.<\/p>\n
\u201cOver the past year or so, we have seen aluminum prices increase about 50 percent,\u201d\u00a0said Christian Diaz, the president of LM Industrial in Orlando.<\/p>\n
The company does\u00a0metal fabrication and structural steel installation and was first hit with tariffs.<\/p>\n
Prices have been steady for about three months, but now, war in Iran could change that.<\/p>\n
\u201cIf we see aluminum prices go up, we may have to adjust our prices to our customers,\u201d Diaz said.<\/p>\n
So far, they haven\u2019t passed on any price increases to customers, like the rise in the fuel surcharge on their deliveries.<\/p>\n
\u201cWe definitely have been keeping up and being very proactive and creating forecasts trying to predict the market,\u201d said LM Industrial CEO Beatriz Carrion.<\/p>\n
AAA data shows the average in Florida on Friday was $3.71 per gallon. The price of gas is also what fuels all the other increases consumers could see at the store.<\/p>\n
\u201cSince virtually all the goods we consume in this country either get to us from one part of the country to the other or from international to domestic, they arrive either by ship, container or on the back of an 18-wheeler. All of that is going to be affected by gas prices,\u201d said Dr. Matthew Imes, an associate professor of finance at Stetson University.<\/p>\n
Imes said it hasn\u2019t hit yet, but everyone should brace their budgets.<\/p>\n
\u201cA lot of the produce and the things we are consuming were already here at the grocery stores. We haven\u2019t seen an increase yet, but there probably will be a measurable increase at least for the duration of the conflict,\u201d Imes said.<\/p>\n
It is hard to predict how soon and hard these increases will hit, but it\u2019s likely the next few weeks that prices at the store will go up \u2014 even sooner for things with a shorter shelf life, like produce.<\/p>\n","protected":false},"excerpt":{"rendered":"ORLANDO, Fla. \u2014\u00a0The ongoing war in Iran is causing a ripple effect across the world. In Florida, it\u2019s…\n","protected":false},"author":2,"featured_media":191077,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2031,274,558,21539,2159,115,1335,139,141,140,9429,135,278,83151,835],"class_list":["post-191076","post","type-post","status-publish","format-standard","has-post-thumbnail","category-orlando","tag-app-local-business","tag-app-top-stories","tag-business","tag-iran","tag-money","tag-news","tag-orange-county","tag-orlando","tag-orlando-headlines","tag-orlando-news","tag-sarah-winkelmann","tag-tampa","tag-top-stories","tag-us-and-iran","tag-vod"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/191076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=191076"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/191076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/191077"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=191076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=191076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=191076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}