$100 Billion in Energy Costs as Iran War Drags On

Gas prices have reached record highs in the US, averaging $4.15 per gallon on Labor Day, the first time they've topped $4 at this time of year.

The ongoing war with Iran has led to higher energy costs, with U.S. households facing a total burden of over $100 billion since the conflict began in late February.

A cost tracker by The Watson School of International and Public Affairs at Brown University estimates that households have paid an average of $772 due to extra gas costs, with $423 coming from gasoline and $349 from diesel.

Goldman Sachs analyst Daan Struyven warns that global oil prices could rise towards $120 a barrel if disruptions in the Mideast continue into 2027.