High fuel prices prompted 3M to raise prices for customers.

3M company stated that it is raising prices to cover a higher expenditure of $125 million related to oil. The materials manufacturer said that the cost of ethylene, a petroleum derivative used in plastic production, has been rising due to ongoing conflicts in Iran, and the company plans to pass on this cost to its customers. CEO Bill Brown stated that rising oil prices may also affect consumer spending, but 3M company is sticking to its previously announced expectation of a 4% increase in total sales by 2026. The company's stock price slightly increased.