U.S. Consumers Spent $41.7 Billion Extra on Fuel Since Iran Conflict Began

U.S. consumers have spent roughly $41.7 billion in additional gasoline and diesel costs since the Iran conflict began in late February, according to estimates from Brown University's Watson School of International and Public Affairs. The university's Iran War Energy Cost Tracker, which uses AAA fuel-price data, showed national average gasoline prices climbed from $2.98 per gallon at the start of the conflict to $4.51.

Diesel prices rose to $5.64 per gallon.

The increase amounts to about $318 per household.

Brown University political-science professor Jeff Colgan said the spending could have gone toward transportation infrastructure instead.

Rising oil prices are continuing to affect the broader U.S. economy and contributing to higher inflation, the estimates indicate.