Moody’s Analytics data shows rising fuel prices have cost consumers $60 billion cumulatively since the war began.
American households have incurred an average of $447.19 in additional energy expenses since the start of the Iran conflict, according to data. The surge in fuel costs has cumulatively reached $60 billion for US consumers, driven by higher gasoline and diesel prices.
Gasoline prices have climbed over 47% since March, with the average unleaded gallon costing $4.39. Diesel prices have similarly risen to $5.52 per gallon, adding more than $20 billion in expenses for consumers. Economists warn prolonged price increases could pressure spending and weaken the economy.
If current trends persist, households may face nearly $2,000 in extra costs by the one-year mark of the conflict.