Gas, groceries, and back-to-school items are where shoppers might see higher oil prices surface
St. Petersburg, FL – Joe Adamski, Managing Director at ProcureAbility, was recently featured in The Associated Press discussing how oil prices surge due to Middle East conflict can impact consumers with higher costs for fuel and groceries.
The Associated Press
Joe Adamski, managing director at ProcureAbility, was recently featured in The Associated Press, discussing how rising oil prices driven by Middle East conflict are increasing costs across supply chains and putting additional financial pressure on consumers.
Already feeling pinched since the start of the Iran war, consumers are likely to feel more pain ahead as oil prices pushed past $100 a barrel Thursday amid renewed fighting and military strikes that have left global oil supplies stranded in the Middle East.
The elevated price marked a turn from lower oil prices enjoyed briefly when hostilities between the U.S. and Iran waned in June. Brent crude, the international standard, last reached $100 a barrel in May.
Companies that produce and sell fresh food, school supplies and anything that gets shipped using fuel reported cost impacts from an earlier spike in energy prices after the U.S. and Israel attacked Iran. They’re likely to continue passing some of their increased expenses to consumers.
“Since everything relies on petroleum in our economy, for good or ill, if the cost of petroleum goes up, then everything else goes up as well,”
Here’s how higher oil prices could put more strain on the finances of U.S. consumers.
Read the full article in The Associated Press.
Managing Director
Joe Adamski has more than 17 years of advisory and consulting experience centered on strategic procurement and large-scale transformations. He has deep experience in launching and executing programs focused on strategic sourcing. Supply chain, procurement strategy, organizational design, and transformations.
Earlier in his career, Joe was an Air Force pilot before joining A.T. Kearney in their consumer practice. He has consulted with numerous Fortune 500 companies in a variety of industries. These include utilities, CPGs, grocery, retail, telecom, apparel, food and beverage, and government.
Joe holds a B.S. degree in Physics from the United States Air Force Academy and an MBA from Emory University’s Goizueta Business School. He enjoys boating, hiking, and spending time in the outdoors.
ProcureAbility, a Jabil company, is the leading provider of procurement and supply chain services, offering advisory, managed services, digital, and staffing and recruiting solutions. For 30 years, we have focused exclusively on helping clients elevate their procurement and supply chain functions.
We combine leading methodologies, analytics, market intelligence, and industry benchmarks with our uniquely flexible and customizable service delivery model. Global organizations of all sizes trust ProcureAbility to transform their procurement operations, drive growth, and reimagine what’s possible.
Let ProcureAbility help you reimagine your procurement and supply chain capabilities.
