Americans feel economic strain six months into Iran war
Rising gas prices and inflation tied to the Iran war are squeezing household budgets across the United States.
Travelers hitting U.S. roads for Labor Day weekend are set to feel pain at the pump, with gas prices at a record high for this time of year, according to AAA.
According to a news release from AAA, the national average price per gallon of gas sits at $4.14 on Sept. 3. That price is a four-cent increase compared to a month ago and an almost a dollar increase compared to a year ago.
The current Labor Day record is $3.82, set on Sept. 3, 2012. AAA noted that the national average has never been above $4 on the holiday.
“Even though gasoline demand decreases this time of year, typically bringing down gas prices, this year is different due to the high cost of crude oil,” AAA said.
Despite the increase in gas prices, Vice President JD Vance said he couldn’t predict when average gas prices would fall below $3 per gallon in comments to reporters at the White House.
“We’re talking about things that are inherently unpredictable,” Vance said. “Gas, frankly, could have been much, much higher were it not for our efforts. But I’m not going to make a promise about when it’s going to return to $3.”
Where is gas the most expensive?
According to AAA, these are the “top 10 most expensive gasoline markets” in the United States:
- California $5.78
- Washington $5.47
- Hawaii $5.41
- Oregon $4.98
- Alaska $4.96
- Nevada $4.91
- Idaho $4.62
- Arizona $4.52
- Utah $4.42
- Montana $4.38
Increased prices at the pump
The increase in gas prices has also dragged President Donald Trump’s approval and hurting the GOP ahead of the midterm elections. Eight in 10 Americans believe attacking Iran increased the cost of gas and groceries, and a majority disapprove of the war in Iran according to a new University of Massachusetts Amherst poll.
“With no end in sight to the ongoing war in Iran, the continued rise in the price of gas, groceries, utilities, and housing, an escalating trade war with Canada, and the likelihood of higher interest rates, it comes as no surprise that Trump’s approval rating remains at a paltry 32%,” Tatishe Nteta, director of the UMass Amherst Poll, said in a news release.
Contributing: Bart Jansen and Swapna Venugopal Ramaswamy, USA TODAY
Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at fernando.cervantes@usatodayco.com and follow him on X @fern_cerv_.