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U.S. Gas Prices Up 34% Since February Strikes on Iran as Peace Deal Talks Advance
Americans have spent an extra $33 billion on gasoline since the war began. National averages reached $4.63 per gallon in mid-May.
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Since Feb. U.S. first struck Iran, average gas prices nationally have risen 34%. Americans have spent an additional $33 billion on gasoline since the start of the war, according to a Brown University estimate.
U.S. Energy Information Administration data. The last time the national average topped $4 was in 2022 after Russia invaded Ukraine.
An NBC News analysis of AAA data shows individual drivers have faced added monthly costs ranging from less than $20 to more than $300 for those who fill up twice a month. The NBC News gas cost calculator samples daily national average prices from AAA since Feb. 28 and estimates extra expenses based on user-provided fill-up frequency and tank size.
U.S. ai. April data from the Federal Reserve Bank of New York found consumers expect to spend more on transportation and utilities over the next 12 months and less on vacations, homes and electronics.
70 per gallon on Wednesday, according to NBC News analysis. Utah and Wisconsin also recorded increases of at least 50% over the same period. Indiana’s prices rose 57 cents since February.
Some states have paused their gas taxes or postponed scheduled increases. Members of the Trump administration discussed pausing the federal gas tax but have not acted. A recent peace deal announcement and subsequent memorandum of understanding have indicated the war could be close to ending.
