Iran War Costs US Households $1,200 as Gas Prices Soar

Rising global oil prices have pushed gas costs to an average of $4.10 per gallon, sparking concerns about renewed inflation and the affordability crisis for American households.

The war with Iran and President Donald Trump's global tariff agenda are driving up costs across the country, with U.S. crude oil reaching as high as $92 per barrel this week.

Mark Zandi, chief economist at Moody's Analytics, estimates that the average household is paying an additional $1,200 due to the war, with gas prices alone accounting for $360 more in costs.

The U.S. Treasury yields have started rising again, and consumer borrowing rates are increasing, with the 30-year mortgage rate reaching its highest level since June 2025 at 6.85%.