Shoppers in Greenpoint, Brooklyn are feeling the surge.
"Everything at the end of the day is connected to oil in some way or the other," said Young Kim of Jubilee Marketplace.
Kim hopes to provide convenience at a great price at his Jubilee Marketplace, but these days, the pricing is getting trickier.
"I've noticed, companies and distributors starting to put fuel charges on their deliveries," Kim said.
Gas was the first thing to go up after the strait of Hormuz essentially shut down 20% of the world's crude oil.
In addition to oil, 30% of the world's urea - a main component of fertilizer - also isn't making it's way through the strait of Hormuz.
Fortunately, the Garden of Eve Farm in Riverhead, doesn't depend on traditional fertilizer because it's an organic farm, but it does depend on diesel.
Last fall, red diesel, the kind used for farm equipment, was $3 a gallon. Today, it's 73% higher, the highest Chris Kaplan-Walbrecht has seen in 25 years of farming, and he's hoping to get ahead of any more price increases.
"When I heard that there had been an attack on the largest natural gas facility in Iran, and that there was some retaliation, I said, 'No, this isn't going away. I better. I better make sure that I at least have our tanks filled so we can start the spring tillage and planting,'" he said.
He hopes to avoid passing on higher costs to customers at farmers markets.
"I come here to get certain stuff," said shopper, Pauline MacIntyre.
MacIntyre is shopping more and more at Costco, looking for savings.
"Hopefully, it gets better because we can't live like that," she said.
Consumers and business owners are feeling the pinch.
"We're a retailer right now, we have the hard decision of, do we pass it on to the customers or do we eat it as a business," Kim said.
----------
* More Brooklyn news
* Send us a news tip
* Download the abc7NY app for breaking news alerts
* Download our connected TV app