U.S.-Iran Conflict Puts Double Whammy on American Consumers

U.S.-Iran conflict is leaving American consumers facing a double whammy of rising oil prices and Treasury yields, increasing their financial pressure.

Crude prices have surged to $105 per barrel, with the average gallon of gas exceeding $4.32 in the U.S., up 6% month over month and 36% from last year, according to AAA.

Mark Zandi, chief economist at Moody's Analytics, estimated that consumers are paying around $930 more for energy due to higher costs on gasoline, diesel, and jet fuel alone.

The total bill per household since the conflict began is approximately $1,760, with half of it coming from energy costs, according to an analysis by Moody's Analytics as of September 11.

Higher interest rates are also affecting consumers, with the 10-year Treasury yield climbing to its highest level in 19 years, driven by concerns over inflation and the U.S. government's growing debt pile.