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ArishMell · 70-79, M
Yes:

Petroleum is not only a source of fuels so its higher cost will push up transport costs for eveyone.

It is also a source of the raw materials for so much else we use and too easily take for granted: lubricants, paints, varnishes, inks, most plastics including the synthetic resins, fertilisers, human and veterinary pharmaceuticals...

The costs displayed at filling-stations are only the obvious, ice-berg tip.