Americans have spent an additional $37.6 billion on gasoline since the war with Iran broke out on February 28, 2024.
This information is provided by the online tracking system of the Watson School of International Relations and Public Affairs at Brown University.
The Iran war has cost each American household an additional $287 in gasoline so far.
This expenditure Medium around $287 per household in the U.S., with the national Medium gasoline price currently at $4.52 per liter. This price has increased 51.6% from the pre-war level of $2.98 per liter in just 72 days.
"Fuel costs are only one consequence of the war, but they directly impact the wallets of American citizens. These costs continue to rise every day," the website states.
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The impact of the US-Iran war on American fuel bills. Source: Iran War Energy Cost Tracking System.The system for tracking the energy costs of the Iranian war is run by Jeff Colgan, Director of the Climate Solutions Lab at the Watson School, Brown University.
This model compares fuel data from the American Automobile Association with hypothetical estimates of prices if conflict did not occur. The difference between actual and hypothetical prices represents the additional cost.
"This is a cost taken directly from the wallets of American consumers," Colgan Chia .
It's not just households that are affected. BeInCrypto previously noted that US airlines spent $5.06 billion on jet fuel in March 2024. This spending increased by 56% compared to February 2024 due to the conflict disrupting global supply chains.
The closure of the Strait of Hormuz has caused fuel prices to rise sharply.
This illustrates the broader economic impact of the conflict. The closure of the Strait of Hormuz – a shipping route for nearly 20% of global energy – has severely affected fuel supplies.
This impact extends beyond the energy sector. Inflation at US food and beverage companies rose 7.9% year-on-year in March 2024, the highest increase in at least a year.
At the same time, public opinion has also changed. A Generation Lab survey found that 77% of Americans believe the attacks on Iran were a mistake.
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