If you feel like your paycheck isn't covering as much as it used to, you're right. The price we pay for groceries, gas, even airline tickets, jumped in May. But experts say prices will rise even more if the fighting in Iraq continues.
"If it continues for another month, we're in for a big bumpy ride," said Rick Slemaker, publisher of Energy Magazine.
ISIS rebels are going after Iraq's oil, attacking the country's largest oil refinery.
"If they stop that oil production in southern Iraq, I guarantee you we're at $5 a gallon," he said.
It's not just the gas for your car. Slemaker says jet fuel for airplanes will cost more. This is on top of already higher ticket prices. In May airline fares jumped by the largest amount in 15 years, according to the Bureau of Labor Statistics.
"Everything's going to go up," Slemaker said. "Everything is based on the price of oil."
A local grocer told Local 2 if it has two legs or four, it'll cost you more. The Texas Farm Bureau confirms reporting the average price of pork chops are up; they are now $4.54 a pound compared to $4.25 a pound just last quarter. Sliced turkey is $4.68 compared to $4.36 last quarter.
These increases are blamed on the ongoing drought and a virus that has reduced pig numbers.
There's not a lot we can do about rising gas and grocery prices, but if you're planning on flying this summer, Slemaker says you should buy your airline tickets sooner rather than later.