Dow Chemical Company has doubled the increase in the price of plastic due to the Iran war causing supply routes to be disrupted.

Chemical company Dow informed customers on Tuesday that, due to the blockade in the Strait of Hormuz cutting off the supply of some raw materials, the company plans to double the previously announced price increase for plastic resins. Dow CEO James Fitterling stated at an investor conference last week that after raising polyethylene prices by 10 cents per pound in March, the company would further increase prices by 15 cents per pound in April for the North American region. However, Dow stated on Tuesday that the price increase for April will now be adjusted to 30 cents per pound. Dow's stock rose by 6% on Tuesday, totaling a 25% increase since the outbreak of the war. Polyethylene is used in the production of shopping bags, plastic bottles, and other goods.