MIT Technology Review – Climate/energy

Fuel Prices Are Soaring. Plastic Could Be Next.

The ongoing Iran‑related conflict has closed the Strait of Hormuz, pushing crude oil above $100 per barrel and gasoline past $4 a gallon in the United States. The spike is reverberating through petrochemical feedstocks, especially naphtha, where Asian prices have jumped 50%, raising the cost of polypropylene and other plastics. Manufacturers in India already announced double‑digit price hikes for bottled water, and similar pressure is expected across consumer goods. With bio‑based plastics accounting for less than 1% of global output and recycling constrained, higher feedstock costs could tighten plastic supply and push prices higher for U.S. consumers.