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Rising fuel prices can impact consumers beyond the gas pump. Oil prices have surged more than 40% since the Iran war effectively shut down the Strait of Hormuz. The price hike can impact everything from cargo ships crossing the Pacific to the delivery van pulling up outside your home - and the costs could quickly trickle down to retailers and consumers. Charlie D'Agata has the latest on the war and Kelly O'Grady explains the rising oil prices' impact on consumers. Each weekday morning, "CBS Mornings" co-hosts Gayle King and Nate Burleson bring you the latest breaking news, smart conversation and in-depth feature reporting. "CBS Mornings" airs weekdays at 7 a.m. on CBS and stream it at 8 a.m. ET on the CBS News app. Subscribe to "CBS Mornings" on YouTube: / cbsmornings Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow "CBS Mornings" on Instagram: / cbsmornings Like "CBS Mornings" on Facebook: / cbsmornings Follow "CBS Mornings" on X: / cbsmornings Subscribe to our newsletter: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-0... For video licensing inquiries, contact: licensing@veritone.com