As described by the British newspaper “Financial Times”, this amount would be enough to finance key reforms of the entire US transportation infrastructure.
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This is how much one US household pays for the war in Iran
Analysts calculated that As of last Sunday, the average American family had paid an average of $316 to fill up their tank. The scale of these expenses shows how huge funds that could have boosted the economy have been irretrievably consumed by the rising prices of gasoline and diesel oil.
Brown University political science professor Jeff Colgan, quoted by the Financial Times, illustrates this with a brutal comparison: additional $41.5 billion This is an amount greater than the entire federal bridge repair program ($40 billion) or the complete modernization of the U.S. air traffic control system ($31.5 billion).
“We could build the transportation infrastructure of the future if we didn't waste this money on higher fuel costs associated with a war that most Americans simply don't want,” comments Prof. Colgan.
Prices at gas stations are up significantly
The reason for such a drastic jump in spending is the paralysis of the Strait of Hormuz, through which one fifth of the world's oil normally flows. The interruption of supply chains pushed the price of a barrel of Brent crude oil to around $110.
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In the United States alone, this resulted in drastic price increases at gas stations, the highest among all G7 countries. Gasoline prices increased by 51%, reaching an average price of $4.51 on Sunday. per gallon (approx. 3.8 liters). Diesel soared 54% to $5.65. per gallon — close to a historic record.
Worse still, the report was released at the worst possible time – just before the summer travel season that begins next week and generates an annual peak in U.S. fuel demand.
Inflation shock and record low Trump support
The rising fuel prices had a domino effect throughout the economy. According to the Financial Times, transport costs translated into sudden increases in the prices of food, airline tickets and everyday goods. April consumer inflation (CPI) rose at the fastest pace in three years and sovereign debt costs soared — the yield on 30-year US treasury bonds reached 5%. for the first time since 2007
This situation is becoming the nail in the political coffin of Donald Trump, whose support is sinking to the bottom. According to a survey for the Financial Times, as much as 58 percent Americans clearly have a bad opinion of how the president deals with the rising cost of living.
Trump: I don't think about the financial situation of Americans
To save the situation and extinguish the inflation fire before the November elections, the Trump administration released record strategic oil reserves, suspended some environmental regulations, and even proposed temporarily abolishing the federal fuel tax.
However, Donald Trump himself caused a real storm with his last statement to journalists. When asked whether the country's high prices would encourage him to end the conflict, he replied with disarming and brutal honesty. — I don't think about the financial situation of Americans. I don't think about anyone. One thing I think about is that we cannot allow Iran to get a nuclear weapon. That's all Trump said.
These words will certainly become the main theme of the Democrats' election campaign, as American drivers heading off on vacation will have to swallow the most expensive refueling in years.
