Americans Misjudge Gas Price Spike Amid Ongoing Global Tensions

A new survey has revealed that many Americans overestimate the rise in gas prices. According to a recent Politico poll, nearly three out of five adults in the US believe that gas prices have increased more than they actually have.

The average price of gas this week was $4, with some areas seeing even higher prices. However, the data shows that before the war between the US and Iran, the average price hovered around $3.

Iranian restrictions on the Strait of Hormuz and the recent entrance of Houthi rebels into the conflict have driven prices back up, causing fuel costs to spike. The international benchmark Brent crude has crossed the $100 mark, with futures trading at around $101 per barrel - a price increase of over $25 since the US-Iran ceasefire.

The poll also found that nearly 46% of voters believe that gas prices could influence their vote in the primaries and midterm election. Additionally, self-identified MAGA Republicans are more likely to underestimate cost increases than other GOP voters.