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The impact of the war with Iran is already being felt strongly in the wallets of millions of Americans. On March 18, the national average price of regular gasoline reaches $3.84 per gallon, according to data from AAA, its highest level since 2023.
In states like Florida, the situation is even more tense: fuel is currently priced at $3.93, above the national average.
The increase is a response to a global shock in the oil market following the conflict that began on February 28 between the United States, Israel, and Iran, which has disrupted the global flow of crude oil and driven up energy costs.
A direct blow to the wallet
The increase has been rapid and significant. Before the conflict, drivers were paying around $2.98 per gallon. In just a few weeks, the rise has been close to a dollar, a hike that is already affecting the daily lives of many families.
The rise in fuel prices has become one of the most immediate economic effects of the war, in a context where the cost of living was already putting pressure on households.
Behind the increase is the rise in crude oil. The Brent barrel -international benchmark- has surpassed 102 dollars, while just weeks ago it was around 70. In the United States, crude oil has also soared to nearly 96 dollars per barrel.
The causes are numerous: disruptions in the supply chain, production cuts in the Middle East, and, above all, the near-total halt of oil tanker transit through the Strait of Hormuz, a key point through which nearly one-fifth of the world's oil flows.
This is compounded by attacks on energy infrastructure and geopolitical uncertainty, which keeps the markets on edge.
Trump tries to capitalize on the rise
The rise in prices has turned attention to the White House. Before the conflict, President Donald Trump boasted about keeping fuel prices low. Now, he has chosen a different approach.
On his social media, he stated that, since the United States is the largest producer in the world, "when oil prices go up, we make a lot of money."
However, that benefit does not reach consumers directly. Experts warn that the immediate impact falls on households, which must bear the increase during a time of inflationary pressure.
At the gas stations, the discomfort is evident. For transportation workers, the impact is even greater, as the price increase affects both their work and personal lives, amidst diesel that now exceeds 5 dollars per gallon.
However, not everyone views the situation negatively. In oil-producing regions like Texas, the rise in crude oil drives economic activity.
Emergency measures with limited effect
In response to the crisis, international organizations and the U.S. government have activated measures to increase supply.
The International Energy Agency announced the release of 400 million barrels from reserves, while the United States will contribute an additional 172 million.
Washington has also temporarily eased sanctions on Russian oil to relieve pressure.
However, analysts agree that these measures are only a temporary relief. The oil market operates in anticipation, and the impact on consumer prices takes time to stabilize.
More inflation and less consumption
The rise in fuel prices not only affects drivers. It has a domino effect on the entire economy: transportation, food, services, and energy.
Professor Francesco D’Acunto from Georgetown University warns that these inflationary shocks can paralyze key household decisions.
“These shocks… cause many households and consumers to be left paralyzed,” he explained in statements to the AP. agency.
"So, potentially, even that will have an effect on the economy as a whole," he added.
As families allocate more money to gasoline, they cut back on other expenses, which could hinder economic growth if the situation continues.
The immediate future is uncertain. If the conflict escalates or drags on, prices may continue to rise.
Additionally, seasonal factors—such as the switch to more expensive-to-produce summer gasoline—could add further pressure in the coming weeks.
For now, the only clear thing is that the war with Iran has directly entered the daily lives of millions of Americans, who are facing the highest fuel costs in almost two and a half years.
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