As the conflict roils gasoline and diesel markets, the U.S. has seen a higher per-person cost increase than any other country, a new analysis finds.
See more from Canary Media’s “Chart of the Week” column.
Donald Trump ran for his second term promising to “make America affordable again.” Two years later, the president’s war with Iran has his constituents paying through the nose for gasoline and diesel.
In fact, per-person fuel costs have risen more in the U.S. than in any other country since the start of the conflict, according to a new analysis from the Finland-based Centre for Research on Energy and Clean Air, or CREA.
The group calculates that between March 1 — the day after the U.S. and Israel made their initial strikes on Iran — and Oct. 14, gasoline and diesel costs in the U.S. were $160 billion higher than they would have been otherwise. That comes out to an extra $471 per person. CREA used fuel prices from January and February as a baseline to calculate the increases.
Why are Americans paying so much more? It’s not because fuel prices have jumped more here; our price increases are similar to those in other market economies, CREA says. It’s because we guzzle a huge amount of gas in our personal vehicles.
S. consumers … use so much oil, leaving them exposed to price shocks they can’t control,” CREA co-founder Lauri Myllyvirta said in a press release .
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