Iran War Cost US Consumers $53 Billion in Higher Gas Prices

President Donald Trump warned Wednesday that continued conflict with Iran could lead to an “economic catastrophe” for the United States, as emergency oil reserves run low and gas prices climb. But new reports show that although the war appears to be ending and the Strait of Hormuz is reopening, the damage is already done. The cost to US consumers: an extra $53 billion in higher gas prices, according to recent data. The Strait of Hormuz, a critical shipping route for global oil, was disrupted during the conflict, driving up energy costs. Trump’s warning came as officials noted that if the war dragged on, the nation’s strategic petroleum reserves would be exhausted, causing prices to spike further. The conflict now appears to be winding down, but the financial impact on American households is already significant.