Gas prices surge 50% since Iran war began, straining American household budgets
By
Luis Melgar, Rachel Lerman
Summary
Since the Iran war began in February, U.S. gas prices have surged about 50%, straining household budgets and forcing Americans to cut back on spending and savings. President Trump dismissed these economic concerns as "peanuts" compared to the threat of Iran obtaining nuclear weapons. Economists warn that energy prices are unlikely to drop quickly despite a preliminary U.S.-Iran deal. The article illustrates the impact by showing what the extra fuel costs could have purchased instead.
Source
bskyGas prices surge 50% since Iran war began, straining American household budgetswashingtonpost.comKey quotes
· 3 pulledPresident Donald Trump has dismissed Americans' economic concerns amid the Iran war as 'peanuts' compared with the threat of Iran having a nuclear weapon.
To workers, the higher costs are hardly peanuts, with the price of gas surging about 50 percent since the war began.
Economists caution that energy prices are unlikely to drop quickly, despite the preliminary deal between the U.S. and Iran.
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