The rising oil prices not only affect gasoline.

Oil is used to manufacture thousands of products, from golf balls and children's toys to shampoo. Christie Saye, an environmental science professor at Baylor University, says that the oil content of different products varies greatly - plastic products can contain up to 40% oil. Whereas liquid products like shampoo have an oil content of only about 1%. Harvard Business School economist Alberto Cavallo says that the Iran conflict has sparked massive energy shocks, and "the rapid transmission of severe shocks is extremely fast". He also said that digital development and online competition have shortened the lag time between cost increases and price adjustments, meaning that companies make pricing decisions faster than in the past. Analysts say that most large companies hold two to four weeks of petrochemical product inventory, but these inventories will gradually deplete by late March.