Radio
Now Playing
Quickyla Radio โ€” Click to play
Open โ†’
3 min left
Back to News

Iran war cost: Average U.S. household paying $450 more on gas and energy

Americans have spent nearly $450 extra per household on rising energy costs during the Iran war , according to an analysis shared exclusively with CNBC's Steve Liesman. The average household has shelled out $447.19 for additional fuel-related expenses since the conflict began on

Iran war cost: Average U.S. household paying $450 more on gas and energy
CNBC Economy โ€” 29 May 2026
Text:
7 0 0

Americans have spent nearly $450 extra per household on rising energy costs during the Iran war , according to an analysis shared exclusively with CNBC's Steve Liesman.

The average household has shelled out $447.19 for additional fuel-related expenses since the conflict began on Feb. 28, data from Moody's Analytics found. That's cumulatively cost American consumers nearly $60 billion as gas prices and airline fares have surged.

Moody's data puts a dollar amount on a portion of the economic pain Americans are feeling as the war reaches its three-month mark. Higher energy costs can force consumers to raid their savings and lean more on debt to cover expenses.

"Unless the war ends soon, financially pressed consumers will have no option but to turn more cautious in their spending, threatening the already soft economy," said Mark Zandi , Moody's chief economist.

If prices stay at current levels, the average household could take a hit of almost $2,000 at the one-year mark of the war, Zandi said.

Roughly half of the increased energy spending so far comes from higher gasoline prices. The average unleaded gallon in the U.S. cost about $4.39 on Friday, up more than 47% since the start of March, according to AAA .

Pricier diesel, which is used in vehicles like delivery trucks and boats, has resulted in more than $20 billion in additional expenses for consumers. The price of diesel has similarly jumped roughly 47% since the beginning of March to around $5.52 a gallon, per AAA.

Consumers have given up nearly $10 billion as a result of rising costs for jet fuel. Airline fares climbed more than 20% in April compared with 12 months ago, federal government inflation data shows.

Advertisement
"Unless the war ends soon, financially pressed consumers will have no option but to turn more cautious in their spending, threatening the already soft economy,"
โ€” CNBC Economy
React:
Sources
Sponsored

More to Read

Sam Altman says OpenAI's top token spender uses 100 billionโ€ฆ
๐Ÿ“ˆ Markets & Finance
Sam Altman says OpenAI's top token spender uses 100 billion tokens a month โ€” and they're โ€ฆ
Business Insider Mkt ยท 13 days ago
Intel, AMD, Micron shares sink as Broadcom results spark seโ€ฆ
๐Ÿ“ˆ Markets & Finance
Intel, AMD, Micron shares sink as Broadcom results spark semiconductor sector sell-off
Yahoo Finance ยท 13 days ago
This Smartโ€‘Money Legend Won Big on Intel. The Rest of His Pโ€ฆ
๐Ÿ“ˆ Markets & Finance
This Smartโ€‘Money Legend Won Big on Intel. The Rest of His Portfolio Might Be Even More Reโ€ฆ
Yahoo Finance ยท 15 days ago
CBS News insiders worry how 60 Minutes will endure after fiโ€ฆ
๐Ÿ’ฐ Business
CBS News insiders worry how 60 Minutes will endure after firings: โ€˜What are they going toโ€ฆ
Guardian Business ยท 13 days ago
'Astonishing': James Webb telescope spots the most chemicalโ€ฆ
๐Ÿ”ฌ Science
'Astonishing': James Webb telescope spots the most chemically primitive galaxy in the ancโ€ฆ
Live Science ยท 17 days ago
You can now beat ChatGPT Codex rate limits, if you have friโ€ฆ
๐Ÿ’ป Technology
You can now beat ChatGPT Codex rate limits, if you have friends
Android Authority ยท 5 days ago
Full view