Business & Finance
War fuel surge costs drivers over $100 billion, study estimates
Higher fuel prices have cost drivers over $100 billion amid wartime price spikes, Jalopnik reports citing research.
The short version
- An analysis by Brown University's Watson School estimates war-related fuel increases have cost Americans more than $100 billion.[Jalopnik]
- Gasoline prices rose 39 percent to $4.15 per gallon, while diesel prices surged 61 percent to $5.90 per gallon.[Jalopnik]
- The national average for gasoline stayed above $4 per gallon throughout August, setting historical records.[Jalopnik]
- Industry analysts expect tight global diesel supplies to persist through the winter due to limited refining capacity.[Jalopnik]
Key facts
- Brown University's Watson School of International and Public Affairs estimated that higher gas and diesel prices resulting from the conflict have cost Americans more than $100 billion.[Jalopnik]
- Gasoline prices increased 39 percent from $2.98 to $4.15 per gallon, and diesel prices rose 61 percent from $3.67 to $5.90 per gallon.[Jalopnik]
- AAA reported that the national gasoline average stayed above $4 per gallon every day in August.[Jalopnik]
- Diesel reached a record $5.85 before rising an additional five cents, according to CBS News.[Jalopnik]
What remains uncertain
- Industry experts cited by Reuters project that global diesel supplies will remain tight through the winter, though actual market duration depends on refining constraints.[Jalopnik]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.