Iran war and Trump tariffs fuel higher gas prices and renewed inflation risks
These rising costs at the pump are a direct result of the jump in global oil prices. Brent crude oil briefly surged above $100 per barrel this week for the first time in two months, after a reported attack on at least two tankers transiting the Red Sea. U.S. crude oil has surged too, rising as high as $92 per barrel this week.
- ▪These rising costs at the pump are a direct result of the jump in global oil prices.
- ▪Brent crude oil briefly surged above $100 per barrel this week for the first time in two months, after a reported attack on at least two tankers transiting the Red Sea.
- ▪U.S. crude oil has surged too, rising as high as $92 per barrel this week.
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ConsumerAs gas prices and mortgage rates rise, the consumer affordability crisis returnsThe Iran war is costing the average U.S. household over $1,200, as the cost of gas and groceries rises and mortgage rates hit levels not seen in a year.Listen to this article with a free profile00:0000:00Add NBC News to GoogleWhy a Record Number of Young Adults Are Moving Back Home03:35Get more newsLiveonShareAdd NBC News to GoogleJuly 24, 2026, 9:24 PM EDTBy Steve Kopack and Christine RomansThe affordability crisis is revving up again.Subscribe to read this story ad-freeGet unlimited access to ad-free articles and exclusive content.The war in Iran and President Donald Trump’s global tariff agenda are pushing prices higher across the country and raising fears of renewed inflation.Gas prices are surging…
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