Research institute estimates Americans spent extra $100bn on fuel amid Iran conflict

The short version

• A study from Brown University's Watson Institute estimates US consumers paid an extra $100bn for fuel over six months following the start of the conflict with Iran.[Al Jazeera]
• The surge translates to an average additional expenditure of approximately $763 across 131 million US households.[Al Jazeera]
• Petrol costs rose 39 percent while diesel surged over 60 percent, with California experiencing the nation's highest average price.[Al Jazeera]
• President Donald Trump has accused energy firms of price gouging while largely dismissing worries over the rising costs.[Al Jazeera]

Key facts

• US consumers paid an estimated additional $100bn for petrol and diesel during the six months following the outbreak of the war involving Iran.[Al Jazeera]
• The added fuel expenses amount to an average of roughly $763 across an estimated 131 million households nationwide.[Al Jazeera]
• Petrol prices rose 39 percent from $2.98 to $4.15 per gallon, while diesel prices jumped more than 60 percent from $3.67 to $5.90 per gallon.[Al Jazeera]
• California recorded the highest average petrol price in the country at $5.85 per gallon.[Al Jazeera]
• President Donald Trump brushed off concerns regarding the price spikes and alleged oil companies were engaged in price gouging.[Al Jazeera]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Iran war: How US consumers spent an additional $100bn on fuelAl Jazeera