US Consumers Paying $100 Billion Extra Due to Crude Oil Disruptions

US consumers have paid over $100 billion in additional fuel costs due to disruptions in crude oil supply caused by the war in Iran, Russia, and Ukraine. According to a report by Brown University's Climate Solution Research Institute, the estimated extra expenditure is around $107 billion.

The calculation takes into account the difference between expected fuel costs and actual expenditures if there was no war. Since the US and Israel attacked Iran on February 28, consumers have paid an average of $500 million a day in additional fuel costs.

High oil prices are also affecting household spending capacity, with some low- and middle-income households reducing savings or other consumption to pay for higher fuel costs.