War With Iran Cost Average American Family About $1,000

The main category of additional costs was gasoline. Its price peaked on May 21 at $4.56 per gallon, before falling back below $4 earlier this month. According to Zandi’s estimate, since the start of the war, American families have overpaid by about $300 on car fuel alone.

The rise in diesel prices hit logistics and increased food costs. According to the economist’s calculations, the average family spent roughly another $200 more as a result.

Among other additional costs, Zandi cites higher interest rates—about $150 per family; higher airfares because of jet-fuel prices—another roughly $100; and direct taxpayer spending on the military operation—about $250.

According to Moody’s, the United States is spending about $50 million a day on the war against Iran.

“My estimate that the war with Iran has already cost the average American household $1,000 and continues to become more expensive, if anything, is conservative. The real cost is likely higher, and significantly higher,” Zandi said.

Other research centers give comparable estimates. Researchers at Brown University calculated that, on gasoline and diesel alone, American consumers have collectively overpaid $64 billion since the start of the war, or $486.41 per family.

According to a June Gallup poll, two-thirds of Americans said they had faced serious financial hardship because of the recent jump in fuel prices.