Americans have spent an extra $41.5bn on fuel since the start of Donald Trump’s
war in Iran, equal to about $316 per household, according to Brown University’s
Watson School of International and Public Affairs. The study says higher petrol
and diesel prices driven by the conflict have pushed up costs across the
economy, including food and airfares, and contributed to the fastest US
inflation in three years. Petrol prices have risen 51% to $4.51 per gallon and
diesel 54% to $5.65. The Strait of Hormuz has been largely closed since the
conflict began in late February, contributing to Brent crude rising above $110 a
barrel. The fuel cost increase exceeds federal infrastructure programs including
bridge repairs and air traffic control upgrades.
