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Tensions in the Middle East have sent global oil prices soaring, and Canadians are already feeling the impact at the gas pump. Higher gasoline prices, however, may be only the first effect.

Gas prices typically rise within about a month of a major supply disruption, Saibal Ray, Professor of Operations Management, told听The Andrew Carter Podcast. Oil prices also factor into the cost of many other goods, to varying degrees. 鈥淲ithin two to three months, you鈥檒l see price increases in other things,鈥� Ray said. 鈥淧rices won鈥檛 just rise at the gas pumps鈥攖he cost of groceries will go up too.鈥�

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