Saturday marked 61 days since the start of the war with Iran, and gas prices continue to soar. The national average for a gallon of regular is $4.43 — up $0.35 this week and up $1.45 since the war began. The Midwest has been hardest hit: prices in Ohio, Indiana and Michigan rose about $1 in the past seven days.
The spike is affecting businesses and households. A near doubling of fuel costs was one factor cited in Spirit Airlines’ collapse; Transportation Secretary Sean Duffy blamed the Biden administration for blocking a JetBlue merger in 2024, saying regulators denied the deal amid concerns about reduced low-cost competition. Spirit pointed to soaring fuel costs driven by disruptions around the Strait of Hormuz, which have rippled through the economy.
Consumers are feeling the pinch. About 42% of Americans say they are cutting back on household spending. High gas prices raise the cost of travel and freight and serve as a visible signal of broader inflation for many shoppers: “People are not going to spend as freely when they have to fill up their cars,” one consumer said. “Even if they’re not filling up, it’s like those high gas prices become a billboard and a signifier for all prices being higher.”
With midterm elections approaching, President Trump has sought to reassure voters, saying prices will fall once the war ends and downplaying some diplomatic overtures from Iran. He told lawmakers a ceasefire had “terminated” hostilities after an April pause, while also warning that Iran still poses a threat to U.S. forces in the region; roughly 50,000 U.S. troops remain deployed.
The combination of military tensions near key shipping lanes, market reactions and political responses has left the administration facing new scrutiny as rising fuel costs reshape economic and political calculations. Olivia Gazis reports from Doral, Florida.