Trump's War Hits American Wallets: US Citizens Forced To Pay Rs 3.4 Lakh Crore Extra On Fuel

Trump's War Hits American Wallets: US Citizens Forced To Pay Rs 3.4 Lakh Crore Extra On Fuel Published By, Last Updated: May 18, 2026, 18:20 IST A study by Brown University has now estimated that the impact of the war on US consumers was $41.5 billion (Rs 3.4 lakh crore) as of Sunday. Rapid Read Americans have spent more than $40 billion extra on fuel since the start of Donald Trump’s war in Iran. (Reuters/Representational Image) US President Donald Trump’s decision to go to war with Iran has affected Americans as much as other countries, as new research suggests that US citizens are paying more than $40 billion (Rs 3 lakh crore) since the beginning of the military campaign in February. The US-Israeli war on Iran has sent fuel prices soaring past $4.50 a gallon nationwide, and a recent Reuters/Ipsos poll found that nearly 8 in 10 Americans hold the president responsible for higher gasoline prices. A study by Brown University’s Watson School of International and Public Affairs has now estimated that the impact of the war on US consumers from higher petrol and diesel prices was $41.5 billion (Rs 3.4 lakh crore) as of Sunday, or $316 (Rs 26,400) per household, according to the Financial Times. This amount is reportedly larger than a federal programme to restore major roads in the US, overhauling the air traffic control system or fully funding the Electric Vehicle Charging and Electrification programmes proposed by former US President Joe Biden. CHECK LIVE UPDATES HERE Rising Petrol Prices Hamper Travel Season As the world grapples with the economic fallout of the West Asia war, the inflation rate in the US has jumped to 3.8%, the highest since Russia’s invasion of Ukraine and creating a growing political problem for Trump ahead of the November mid-term elections. US petrol prices have jumped 51% to reach $4.51 a gallon on Sunday, according to the American Automobile Association (AAA), the sharpest rise of any G7 nation. Diesel has surged 54 per cent to $5.65 a gallon, near record levels. “We are spending this huge amount of money as a country on extra fuel costs, which we could have used in a whole bunch of more constructive ways to improve America’s transportation infrastructure, which, frankly, could use the love," said Jeff Colgan, a political-science professor at Brown University. The closure of the Strait of Hormuz has not only resulted in higher fuel prices but also pushed up the cost of groceries and airfares as escalating fuel costs extended to other sectors. The situation experienced further strain as Americans prepare to travel across the country during the summer season, sending petrol demand to its annual peak. ALSO READ: Iran Officially Announces Body To Manage Strait Of Hormuz, Responds To US Peace Proposal What Do Americans Think Of Iran War? Several surveys indicate that the war is not popular among US voters and has dented Trump’s popularity, which now sits near record lows. A recent poll by the Financial Times found that 58% of Americans disapproved of his handling of the cost of living. “We could have been building the transportation infrastructure of the future if we weren’t wasting it on higher fuel costs associated with a war that Americans mostly don’t want," said Colgan. In an effort to temper the energy shock, the Trump administration has released record volumes of oil from the US Strategic Petroleum Reserve, eased restrictions on shipping and environmental regulations on fuel, and proposed suspending federal taxes on petrol and diesel. However, Trump sparked backlash with a sensational claim that Americans’ financial situation was not motivating him to end the war “even a little bit." News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit Location: United States of America (USA) First Published: May 18, 2026, 18:17 IST News world Trump's War Hits American Wallets: US Citizens Forced To Pay Rs 3.4 Lakh Crore Extra On Fuel Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy Loading comments...