As the conflict in Iran continues, gas prices keep rising. Fuel costs over a dollar more than it did at this time last year, and it averages $4.05 per gallon in North Carolina. To learn more about the issues behind the price spikes, WRAL News reached out to Rob Handfield, the Bank of America University Distinguished Professor of Supply Chain Management at Poole College.

Surveys show that a plurality of consumers think we’re seven or more months away from pre-war gas prices, but Handfield worries that’s wishful thinking. “There’s a possibility this could actually last longer than 2026,” he said. “The fact is, a lot of the oil infrastructure was damaged during the war, and it takes a long time to rebuild these facilities. We could be three to five years where we see oil shortages, therefore, gas prices remain high.”

Handfield also points out that diesel prices, which are approaching a record high, are causing further issues. “The price of everything goes up because everything has to be trucked somewhere and distributed to stores.” He says that “diesel is hit harder, which is really hard for farmers and transportation providers” and that “the consumer ultimately pays for it because of the transportation surcharges, fuel surcharges and all the trucks in this country use diesel fuel to operate. They’re going to pass on those increased costs [to consumers] in the form of higher prices for groceries, sundry goods and everything else.”

Part of Handfield’s interview was included in the broadcast, and more of his comments are in the accompanying article.

Read more or watch the segment at wral.com.

This post was originally published in Poole Thought Leadership.