There’s no question Donald Trump’s hugely unpopular war with Iran is costing taxpayers billions and spiking oil and gas prices. New reporting shows that sales at gas stations spiked 15.5% in March compared to the month before as Americans spent more at the pump and less elsewhere. With Trump at the helm, chaos reigns in the Middle East, where a tug-of-war for control over the Strait of Hormuz is causing long-term uncertainty for oil supplies – threatening to drive up gas prices for months to come. Trump’s war is hitting working Americans where it hurts, with millions paying far higher gas prices than they did just over a month ago. Meanwhile, Americans are already dealing with GOP policies that have led to mass layoffs and high prices on everything from health insurance premiums to electric bills – all to give billionaires more tax breaks, and themselves golden ballrooms and taxpayer-funded private jets. Read more about the cost of Trump’s war with Iran at the gas pump and beyond:
Trump’s War on Iran Is Hiking Oil & Gas Prices For Working Americans
- Gas prices are still above $4 a gallon on average, up 28% from last year.
- Diesel prices have jumped 60% year-over-year, remaining above $5.50 a gallon.
- Nationwide, Trump’s war with Iran has saddled consumers with an extra $24 billion in added fuel costs – around $95 extra in gasoline and $88 extra in diesel per household.
- Sales at gas stations spiked 15.5% in March, even as other retail sales rose even slower than last month.
- Even if the Strait of Hormuz reopens to shipping, it will take months to return to pre-war production and export levels.
- Trump’s own Energy Secretary admitted gas prices could stay above $3 until 2027, even as the President disagrees.
HEADLINES
- The New York Times: Why Gas Prices Go Up Fast and Take So Long to Fall
- Axios: Get Used To Higher Gas Prices This Year Due To Iran War
- CNN Business: Retail Sales Post Biggest Jump In More Than 3 Years On Record Spike In Gas Prices
- The New York Times: Energy Secretary Says Gas Prices May Stay Above $3 Until 2027
- Mother Jones: The Iran War’s Wild Spike in Diesel Prices Is Eating Into Your Earnings
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