More than seven months into the U.S. war with Iran, sharply higher fuel prices are making it more expensive to drive and fly and\u00a0adding to the cost\u00a0of some goods, prolonging the strain on American households as the\u00a0midterm elections approach.<\/p>\n
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Motorists and airline passengers have borne the clearest consequences as the\u00a0fighting disrupts\u00a0Middle East oil shipments. Some companies have raised delivery charges or prices on selected products. Yet the higher cost of making and moving goods has not translated into across-the-board price increases at stores.<\/p>\n
Shoppers may not be spared indefinitely, though. Many companies have absorbed at least part of their higher production and transportation costs. A September\u00a0jump in wholesale prices\u00a0suggests some businesses may eventually charge more if fuel prices stay elevated.<\/p>\n
The chief economist at Moody\u2019s Analytics, Mark Zandi, estimated this week that the war has cost the average U.S. household the equivalent of almost $2,000, including $1,100 in higher energy prices, $540 in higher interest rates and $360 in military costs. The energy portion is growing by $50 a week at current fuel prices, Zandi said.<\/p>\n
Here\u2019s a look at price changes since the war began and which goods and services could be most susceptible to increases in the months ahead:<\/p>\n
Filling up fuel tanks is noticeably more expensive<\/h4>\n
BEFORE THE WAR: Regular gasoline averaged $2.98 a gallon nationwide and diesel $3.76 almost eight months ago, according to AAA. Gas peaked at $4.56 in May, below its 2022 record, while diesel reached a record $6.53 in September.<\/p>\n
WHAT\u2019S REACHED CONSUMERS: On Friday, the national average stood at $4.33 a gallon for gasoline, or\u00a045% above its prewar level, and was up 68% for diesel at $6.33, AAA reported. Gas typically costs less in the fall, and this is the first October a gallon of regular gas has cost more than $4 on average, it said.<\/p>\n
Expensive diesel is less apparent to most U.S. residents but contributes to\u00a0overall inflation\u00a0by raising the cost of moving goods.<\/p>\n
WHAT COULD COME NEXT: Shipping through the Strait of Hormuz\u00a0remains dangerous\u00a0and constrained, prolonging\u00a0uncertainty over oil supplies\u00a0and fuel prices. The Energy Information Administration said this month that it expected winter heating costs to be 21% higher for the roughly 3% of households that rely on heating oil, most of them in the Northeast, assuming the weather is mild.<\/p>\n
Higher airfares are hard to escape too<\/h4>\n
BEFORE THE WAR: Jet fuel averaged $99 a barrel worldwide before the war, doubled to $209 in April and climbed back to nearly $195 in September after a spring decline, according to the International Air Transport Association.<\/p>\n
WHAT\u2019S REACHED CONSUMERS: Airlines have\u00a0raised ticket prices and fees, trimmed schedules and shelved plans to add flights. Airfares cost about 22% more in September than they did a year earlier, the consumer price index showed. Average domestic airfares rose from $405 in late 2025 to $445 in the April through June period of this year, excluding optional fees, according to the U.S. Bureau of Transportation Statistics.<\/p>\n
WHAT COULD COME NEXT: Fuel price volatility makes it harder for airlines to plan and could discourage them from lowering fares even when fuel prices start to fall, analysts said. United Airlines pulled some December flights and warned of further possible cuts in 2027. Fewer available seats could mean less pressure to hold ticket prices down.<\/p>\n
Higher fares have covered substantial portions of higher fuel costs for domestic airlines but not enough to prevent a squeeze on their third-quarter profits, according to consensus estimates.<\/p>\n
Any growth in grocery prices pains Americans after multiple years of food inflation<\/h4>\n
BEFORE THE WAR: The U.S. Department of Agriculture initially expected grocery prices to rise 1.7% this year, below the historical annual average. USDA now expects a still comparatively modest 2.4% increase.<\/p>\n
WHAT HAS REACHED CONSUMERS: Individual food prices\u00a0can be volatile, and it\u2019s not clear how much of this year\u2019s expected increase is due to the war and how much is due to other factors, including tariffs, unfavorable weather and higher labor costs.<\/p>\n
Cornell University economics professor Chris Barrett said he was surprised grocery prices haven\u2019t risen faster given higher costs for diesel, fertilizer and refrigeration. USDA revised its 2026 fertilizer cost estimates for major crops upward by 9% to 13% and fuel, lubricant and electricity estimates by 33% to 41%.<\/p>\n
Barrett suspects retailers are absorbing some increases to avoid alienating fed-up customers after\u00a0multiple years of food inflation. Grocery prices in September were about 22% higher than five years earlier.<\/p>\n
WHAT COULD COME NEXT: Experts have warned that fresh produce and other frequently replenished perishables could respond quickly to higher transportation and refrigeration costs. Barrett sees \u201cvery little prospect\u201d of a significant reduction in fuel prices that could ease the pressure on farmers and truckers.<\/p>\n
A strengthening El Ni\u00f1o weather pattern could damage crops through drought, heat or flooding, the U.N. Food and Agriculture Organization warned. That could lift commodity prices, although ample inventories and good harvests elsewhere may limit the impact on groceries.<\/p>\n
Rubber meets the road when it comes to shoe prices<\/h4>\n
BEFORE THE WAR: Nearly all shoes sold in the U.S. are imported, and roughly 70% of the materials in a synthetic shoe are petrochemical-based, according to Footwear Distributors and Retailers of America. The industry trade group opposed Trump administration tariffs last year.<\/p>\n
WHAT HAS REACHED CONSUMERS: Footwear prices were 3.4% higher in September compared to 12 months earlier, according to the consumer price index. Men\u2019s shoes went up the most, by 4.5%.<\/p>\n
WHAT COULD COME NEXT: While import costs are down from a year ago, the footwear trade group said oil prices, tariffs and geopolitical uncertainty are likely to keep retail shoe prices rising into 2027.<\/p>\n
\u201cFootwear companies are working hard to keep shoes affordable, but there is a limit to how much additional cost businesses can absorb before those pressures reach consumers,\u201d FDRA President and CEO Matt Priest said.<\/p>\n
Transportation costs add up throughout product supply chains<\/h4>\n
BEFORE THE WAR: The cost of moving goods and delivering packages was already increasing and depended on more than fuel.<\/p>\n
WHAT HAS REACHED CONSUMERS: It\u2019s not clear. September producer-price data showed that transportation and warehousing of goods sold to businesses as inputs cost 10.2% more than a year earlier. Prices for truck and water freight services each rose 19.3%. The indexes measure what transportation providers charged but do not show how much of the increase appeared in retail prices.<\/p>\n
Consumers have felt the higher costs most directly when sending packages. The U.S. Postal Service raised base prices 8% in April for Priority Mail Express, Priority Mail, Ground Advantage and Parcel Select, citing increased transportation costs. UPS, FedEx and DHL also impose fuel surcharges on many shipments.<\/p>\n
WHAT COULD COME NEXT: Shipping costs could remain elevated\u00a0during the holiday season\u00a0even if oil prices ease. Third-party provider AFS Logistics and financial services company TD Cowen project record parcel costs this quarter and the highest truckload rates since early 2022.<\/p>\n
\u201cWe expect fuel to drive elevated transportation costs for the foreseeable future,\u201d AFS Logistics CEO Andy Dyer said.<\/p>\n
Although UPS and FedEx surcharges could decline if diesel and jet fuel prices fall, changes to carrier surcharge formulas, holiday fees and tight trucking capacity could keep total shipping bills elevated, AFS said.<\/p>\n<\/div>\n
#Iran #war #cost #average #U.S #household #equivalent #top #economist<\/p>\n","protected":false},"excerpt":{"rendered":"
More than seven months into th… <\/p>\n","protected":false},"author":1,"featured_media":6950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[150,225,1686,6840,10077,456,187,687,356],"class_list":["post-6949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-average","tag-cost","tag-economist","tag-equivalent","tag-household","tag-iran","tag-top","tag-u-s","tag-war"],"yoast_head":"\n
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