US Edition
Gas Prices Soar by 21% as Government Inflation Figures Reflect Trump’s War on Iran
Fuel costs drove the monthly inflation surge, and gasoline prices rose 21.2% as Americans faced the highest annual CPI increase since May 2024.
- Inflation rose 3.3% in March, the sharpest annual increase in four years, according to Friday's consumer price index figures. Gas prices jumped 21.2%, driving the overall spike in costs.
- President Donald Trump launched a war with Israel on Feb. 28, prompting Iran to effectively close the Strait of Hormuz. The International Energy Agency reports this caused the largest supply disruption in global oil market history.
- Americans paid an average of $4.15 per gallon for regular gas as of Friday, according to AAA. White House senior deputy press secretary Kush Desai stated the Administration is "diligently working to mitigate" energy volatility.
- Consumer sentiment plunged to 47.6 in April, a record low according to the University of Michigan. Michael Pearce, chief U.S. economist at Oxford Economics, warned, "It's going to get more painful in April."
- Rising energy costs could complicate the president's party's efforts to retain control of Congress in next year's midterms. Democrats argue affordability is the "single-most important issue" for voters facing economic strain.
19 Articles
19 Articles
Inflation Hit Highest 1 Month Spike In 4 Years Due To Iran War
Source: Mario Tama / Getty While Iran and the United States have agreed to a two-week ceasefire that’s looking shakier by the day, the impact of the war is still being felt by the global economy. Last month, inflation rose at its sharpest in four years, largely driven by higher gas prices. According to NBC News, inflation rose to 3.3% in March, up 0.9% from the month before. Gas prices increased by 21.2%, their largest single-month increase sin…
Ohio Capital Journal
Gas prices soar by 21% as government inflation figures reflect Trump’s war on Iran
An Indianapolis gas pump shows prices over $4 a gallon on Tuesday, April 7, 2026. (Photo by Niki Kelly/Indiana Capital Chronicle)WASHINGTON — Spikes in energy prices caused by the U.S.-Israeli war in Iran drove up inflation for Americans in March, according to the latest consumer price index figures released Friday. Costs jumped 0.9% in March compared to the previous month — that’s up from the 0.3% increase in February. Prices for all items tog…
Inflation reports in the T-MEC region for March are showing the first effects of the conflict in the Middle East.Inflation in the United States last March climbed to 3.3% per year (0.9% per month).This increase represented a significant leap from the 2.4% recorded in February 2026, reaching its highest level in almost two years.The main trigger of the increase was the price of fuels: gasoline skyrocketed 21.2% in annual terms, an increase that h…
US CPI for March yet to reflect full impact of Iran conflict: 3.3%, slightly below 3.4% expected
The Corner Bankinter | The CPI rose slightly less than expected in March: 3.3% against an estimate of 3.4% and a previous reading of 2.4%. Core rate 2.6% compared to an estimated 2.7% and the previous 2.5%. Analysis team’s view: the monthly figure (0.9% month-on-month) is the highest since June 2022, driven by the energy shock following the outbreak of the conflict in the Middle East. The rise excluding energy is more...
The Labor Department reported Friday that inflation accelerated sharply in March, to 3.3 percent, from 2.4 percent the previous month.
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