Americans expect higher gas prices after months of Iran war disruption
Updated
Updated · abcnews.com · May 8
Americans expect higher gas prices after months of Iran war disruption
7 articles · Updated · abcnews.com · May 8
An ABC News/Washington Post/Ipsos poll found 50% expect further rises, while 40% say they are worse off since Donald Trump returned in January 2025.
Higher fuel costs linked to Iran's blockage of the Strait of Hormuz have pushed many to cut driving, household spending and travel, with lower-income households hit hardest.
A 61% majority called the administration's decision to go to war with Iran a mistake, as economic strain threatens to shape midterm elections and Iran reviews a US proposal.
Amid the global economic chaos from the Iran conflict, which industries or nations are unexpectedly thriving?
With peace talks stalled and an ultimatum set, what will it take to reopen the world's most critical oil chokepoint?
Beyond releasing reserves, what permanent solutions can secure the global energy supply from future geopolitical shocks?
The 2026 US-Iran War and the Strait of Hormuz: Economic Fallout, Energy Crisis, and Geopolitical Shifts
Overview
In May 2026, the American economy faces significant strain as volatile energy markets and persistent inflation drive up costs for households and fuel public discontent. The conflict between the U.S. and Iran, which began in late February, led to a surge in crude oil prices and a sharp drop in gasoline inventories, despite a fragile ceasefire in April that brought only temporary relief. These economic pressures are shaping public opinion and political dynamics, with many Americans critical of government actions and seeking change. The situation highlights how global conflicts can quickly impact everyday life and national stability.