The conflict between the US and Iran has cost Americans more than 40 billion USD in additional fuel costs, according to the Financial Times (FT), citing a report by the Thomas Watson School of International and Public Affairs at Brown University.
According to experts, “the damage to consumers from higher gasoline and diesel prices amounts to 41.5 billion USD – or 316 USD per American household“. America is “spending a huge amount of extra money on fuel that could be used much more constructively,” said Jeff Colgan, a professor of political science at Brown University. The additional fuel costs exceed the entire federal bridge repair program ($40 billion) and the cost of a complete modernization of the US air traffic control system ($31.5 billion). The fallout from the Iran war “has hit the world’s largest economy, pushing inflation to its highest level” since the Ukraine conflict, posing a growing political challenge for President Donald Trump, the publication said. Consumer inflation in the US accelerated to 3.8% year-on-year in April 2026, while the monthly core inflation rate rose to 0.4%. The main driver of this accelerated price growth is the global surge in energy costs due to geopolitical tensions.
According to the American Automobile Association, gasoline prices in the United States jumped 51% to $4.51 a gallon on Sunday, the steepest increase among all G7 countries. Diesel prices rose 54% to $5.65, near a record high.
Polls show that most Americans do not support the US war on Iran, and the conflict has undermined Trump's popularity with voters, which is currently at an all-time low, the publication notes. A recent FT poll found that 58% of Americans disapprove of his approach to regulating the cost of living.