The Office of Trade Policy and Strategy says the renewed US-Iran conflict could keep global oil prices high. Producer prices rose 8.2% and road freight service costs rose 11.1% year on year in Q2 2026, while consumer inflation stayed low at 1.08% for the first half, thanks to government energy price controls. The agency says the economy can absorb the shock, but it recommends that businesses cut internal costs, add value to products and services, and study alternative energy to reduce fuel dependence. Review freight and input-cost budgets now, and pricing for any contracts with fixed terms.