Fuel prices are soaring. Plastic could be next
11 hours ago
- #Fossil Fuels
- #Plastic Crisis
- #Supply Chain
- The war in Iran is causing fossil-fuel prices to rise, with gasoline averaging over $4 per gallon in the US, the highest since 2022.
- Plastics, made from petrochemicals like naphtha, face supply chain disruptions; Middle East production issues have spiked naphtha prices by 50% in Asia, driving up costs for plastics such as polypropylene.
- Global reliance on plastics is high—the average US resident used over 250 kg of new plastics in 2019, compared to a global average of 60 kg—but alternatives like bio-based plastics are expensive and account for less than 1% of production, with recycling methods facing limitations.
- Higher prices for fuels and feedstocks could compound economic impacts, making items like water bottles, toys, and automotive parts more expensive, while no easy substitutes exist to replace fossil-derived plastics.