AGC's Data DIGest: March 23-27, 2026

Reshaping the IndustryThe impact of the Middle East war on construction costs, supply chains, and investment decisions is growing. Some energy company executives “say price gyrations and the uncertainty hanging over the conflict make it all but impossible to plan investments—and that the disruption is already far-reaching,” the Wall Street Journal reported today. “Even if the U.S. manages to reopen the Strait of Hormuz, they said, it will take a long time for supplies of oil, fuel, plastics, natural gas, and industrial gases—all critical to the global energy system and manufacturing myriad daily essentials—to catch up with demand….CEOs said the next regions hit would be Europe and the U.S. West Coast. California imports roughly 75% of its oil, about 20% of its jet fuel, and 10% of its gasoline—much of that coming from Asia and the Middle East. California is poised to see fuel shortages if the Strait remains closed in coming weeks, they said. Asian refineries are running through the crude in their storage tanks and are expected to start cutting production soon. The oil and fuel supplies that California depends on are on track to become harder to find in coming months, said Andy Walz, who runs Chevron’s refining, pipeline, and chemical businesses.” The national average price of diesel fuel was $5.38 on Thursday, up $1.62 (43%) from a month ago, just before the war began, AAA reported.Construction spending (not adjusted for inflation) totaled $2.19 trillion, down 0.3% from an...