13 hrs ago
Iran War Drives $107 Billion in Extra U.S. Fuel Costs
People in the United States have paid much more for gasoline and diesel during recent wars.
Researchers estimate the extra cost at about $107 billion.
Their estimate includes the conflict involving Iran and disruptions from the Russia-Ukraine conflict.
The estimate comes from the Climate Solutions Lab at Brown University.
Since February 28, Americans have spent more than $500 million extra each day on fuel.
The United States and Israel attacked Iran on that date, according to the report.
Crude oil prices have recently risen sharply.
That means fuel costs may continue to increase in the coming weeks.
U.S. consumers have spent an estimated $107 billion more on gasoline and diesel.
The estimate covers the Iran conflict and disruptions linked to the Russia-Ukraine conflict.
The Climate Solutions Lab at Brown University calculated the additional spending.
The extra costs average more than $500 million per day since February 28.
Rising crude oil prices are expected to increase the total in the coming weeks.
- Who
- U.S. consumers, with estimates prepared by Brown University's Climate Solutions Lab.
- What
- They have spent about $107 billion more on gasoline and diesel because of the Iran conflict and Russia-Ukraine-related disruptions.
- Where
- The spending occurred in the United States.
- When
- The additional spending has averaged more than $500 million per day since February 28.
- Why
- The conflicts and related disruptions increased fuel costs, while a recent surge in crude oil prices is expected to push costs higher.
Key facts
- Estimated extra spending
- About $107 billion
- Fuel types
- Gasoline and diesel
- Average daily increase
- More than $500 million per day
- Estimate period
- Since February 28
- Researcher
- Climate Solutions Lab at Brown University
- Conflicts included
- The Iran conflict and disruptions from the Russia-Ukraine conflict
- Expected trend
- Higher costs in the coming weeks because of a recent crude oil surge
Sources
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