This Is How Much the Iran War Is Adding to Every American’s Fuel Bill

Americans have spent $37.6 billion more on gasoline and diesel since the Iran war erupted on February 28. 

This data comes from a live tracker from Brown University’s Watson School of International and Public Affairs.

The Iran War Has Cost Every American Household $287 in Extra Fuel So Far

The figure breaks down to about $287 per US household, with national gas prices now averaging $4.52 a gallon. The price marks a 51.6% jump from the pre-war level of $2.98 over just 72 days.

“Fuel costs are just one part of a war’s consequences, but they come directly out of Americans’ pockets. These costs are rising everyday,” the website reads.

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The Iran War Energy Cost Tracker is led by Jeff Colgan, director of the Climate Solutions Lab at Brown’s Watson School. 

The model compares fuel data from the American Automobile Association with estimated levels had the conflict not occurred. The gap between actual and counterfactual prices forms the cost calculation.

“This is an expense coming directly out of the pockets of American consumers, and consumers,” Colgan said.

It’s not just the households. BeInCrypto previously reported that US airlines spent $5.06 billion on jet fuel in March. That was a 56% jump from February as the conflict disrupted global supply.

Hormuz Closure Drives the Squeeze at the Pump

This highlights the broader economic impact of the conflict, which has led to the closure of the Strait of Hormuz, a critical passage for nearly 20% of global energy shipments.

The impact has also extended beyond energy markets. Inflation among US food and beverage companies rose 7.9% year-over-year in March, marking the sharpest increase in at least a year.

Meanwhile, public sentiment has also turned. A Generation Lab survey of Americans found 77% believe the strikes against Iran were the wrong call.

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The post This Is How Much the Iran War Is Adding to Every American’s Fuel Bill appeared first on BeInCrypto.