3 Household Staples To Grab Now Before Venezuelan Sanctions Drive Up/Lower Costs
Written by
Heather Altamirano
Edited by
Amen Oyiboke
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President Donald Trump shocked the world when he announced that a U.S. military operation resulted in the capture of Venezuelan President Nicolás Maduro and his wife, Cilia Flores, a move that Secretary of Defense Pete Hegseth said was necessary for the “safety, security, freedom and prosperity of the American people” during a press conference.
While the event continues to unfold, the situation matters on American soil for several reasons, including the possible impact on energy markets. If the U.S. adjusts sanctions on Venezuela, certain household staples could see price changes sooner rather than later.
Sanctions can impact a budget in “countless ways,” according to Fergus Hodgson, CAIA, a financial economist and director at Econ Americas. “Sanctions are impediments to international trade, which means they are almost guaranteed to inflate prices of imported goods and those with imported components,” he said.
While Hodgson does not “foresee striking rises to prices in oil markets,” other experts caution that higher prices could come.
To help prepare for the days ahead, stocking up on these items now can help families stay ahead of potential cost shifts, whether prices rise or fall.
Here are three everyday essentials experts say are worth grabbing while you can, according to Danny Ray, founder of PinnacleQuote, a life insurance company.
Gasoline and Diesel: Why Venezuela Matters to U.S. Gas Prices
There’s been a lot of speculation about how Venezuela will impact gas prices for Americans. What happens in Venezuela can reach U.S. gas pumps faster than many people realize, largely because of how American refineries are designed.
Gas is also a necessity for households because it supports basic, everyday functions, such as commuting to and from work, which are difficult to avoid, especially in areas without easy alternatives.
“Many Gulf Coast refineries in the U.S. are built to handle Venezuela’s heavy crude, so when those oil shipments get cut off or spike in price, it messes with refinery operations,” said Ray. “That usually leads to higher prices at the pump for gas and diesel — and most of us feel that hit right away.”
Packaged and Processed Foods: How Energy Costs Hit Your Grocery Bill
Buying packaged and processed foods is convenient, but producing them requires a lot of energy — and those costs can end up affecting your wallet.
“Farmers pay more for diesel and fertilizer, while companies that process and package food get hit with rising logistics and packaging costs,” Ray said. “Eventually, those extra costs land in your grocery cart — especially in packaged and frozen foods, or shelf-stable items.”
Essential Household Goods: The Hidden Cost of Higher Fuel Prices
Basic household needs like toilet paper and cleaning products are must-haves, but they’re super sensitive to transportation costs, Ray said.
“If trucking or shipping gets more expensive because of higher fuel prices, retailers often pass that cost along — translation: higher prices on the shelf,” he said.
Sanctions on Venezuela don’t usually cause shortages here in the U.S., but they do make things more expensive.
“It tends to hit middle-class households first at the gas pump, then slowly through food, transport, and everyday items,” said Ray. “When oil prices go up, so do fuel and shipping costs — and pretty soon, everyday stuff gets more expensive.”
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