Brown University Analysis Puts Cost of Trump's Iran War at $100 Billion in Higher Energy Prices
Key Takeaways
- •Brown University's tracker estimates Americans have paid an extra $100 billion in higher fuel costs since the Iran conflict began on Feb. 28.
- •The tracker calculates roughly $1 million in additional energy costs for Americans every two minutes using daily-updated prices.
- •Diesel hit an all-time record of $5.90 a gallon, up 60% from a year ago, according to Axios.
- •Because diesel powers most U.S. freight hauling, sustained price increases are expected to push up shipping costs and the prices of many goods.
- •Voters view inflation as their top issue and rate the president negatively on it, with midterms less than two months away.
Americans are paying an extra $1 million every two minutes in higher energy prices as a result of President Donald Trump's ongoing war in Iran, according to a Brown University analysis. The total added cost has reached $100 billion.
"Yes," Brown University confirms, "that's $100.0 Billion."
The Iran War Energy Cost Tracker, run by Brown's Watson School, calculates in real time the additional amounts Americans have paid for gasoline and diesel since the conflict began on Feb. 28.
"We use actual prices that are updated daily," the Watson School states on its website. "Fuel costs are just one part of a war's consequences, but they come directly out of Americans' pockets. These costs are rising."
According to Axios, which first reported on the tracker, a recent surge in diesel prices threatens to sharply raise freight and travel costs in the months ahead.
Diesel hit an all-time record high on Friday and has continued to climb every day since, reaching $5.90 a gallon on Monday morning — up 60% from a year ago, according to Axios.
Diesel is the primary fuel for the U.S. trucking industry, which hauls the vast majority of the nation's freight, so sustained increases in diesel prices tend to feed into shipping costs and, in turn, the prices of a wide range of goods — a mechanism by which the tracker's fuel figures reach beyond the pump.
"Voters consistently say inflation is their most important issue, and on that subject they give the president substantial negative marks," the report notes. "With less than two months until the midterm elections, it'll be hard to temper their anger."
