US households face $100 billion fuel bill as Iran war drives prices up
A real-time model from Brown University estimates that the Iran conflict has added over $100 billion to American gasoline and diesel costs, rising about $1 million every two minutes.
According to a live estimate from Brown University’s Watson School, the Iran war has already forced U.S. consumers to spend more than $100 billion on higher gasoline and diesel prices, with the cost increasing by roughly $1 million every two minutes. The tracker shows an average household burden of about $767, split between $55 billion for gasoline and $45.5 billion for diesel. Diesel prices have jumped 61% from a year ago to $5.90 a gallon, while gasoline rose from $2.98 to $4.15 per gallon, a 39% increase, adding an estimated $420 per household for gasoline alone.
Texas has incurred the greatest additional expense at $11 billion, with California and Florida trailing at $8 billion and $5 billion respectively. Higher diesel costs, crucial for trucking and freight, risk pushing up prices for a wide range of goods and services. The surge also creates a political dilemma for President Donald Trump, who must balance voter concerns about inflation with his stance on preventing Iran’s nuclear ambitions.
Why it matters
Rising fuel costs strain household budgets and could influence voter sentiment ahead of the midterm elections.
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