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“United States oil companies have earned more than $130bn in profits during the war on Iran, even as consumers pay much higher prices for key commodities, amid fears that US President Donald Trump may renew fighting after midterm elections.”

“Americans, meanwhile, are paying the price—the median US household has spent $856 more at the gas pump than they otherwise would have since the war started.”

“The war in Iran, as well as Ukraine's strikes on Russian oil refineries, have taken a lot of global refining capacity offline.”

“Prices moved lower as trading desks and energy experts watched closely for a sign that Tuesday’s midterm election results would pressure President Donald Trump into ending the Iran war without a major escalation.”

“Across the country, the average cost of a gallon of gas has risen 40% since Feb. 28, the day Trump and Israeli Prime Minister Benjamin Netanyahu launched attacks on Iran that sent crude oil prices through the roof.”

“The Iran war has “just got to end”, she said, which will help bring down prices.”

“Here's what to know about some affordability proposals made on the campaign trail, according to experts: End the war in Iran The Iran war triggered a rise of inflation earlier this year as a historic oil supply shortage pushed up prices for gasoline,…”

“Oil prices posted their sharpest drop in three months Monday, after a series of headlines on Iran gave investors hope that the Trump administration would find a way to end the conflict without further escalation.”

“But consumer prices have soared since the war with Iran started, and for the last six months, inflation has outpaced wage gains.”

“William Galston, a senior fellow at the Brookings Institution think-tank, said two of Trump’s decisions this term have directly contributed to cost pressures: launching the war on Iran and slapping tariffs on trade partners.”

“Trump acknowledged the rise in oil prices, but he said the war with Iran had been worth it to prevent Iran from acquiring a nuclear weapon.”

“Rising gas prices drove much of the inflation increase as renewed violence in the Middle East has kept oil prices above $100 a barrel, up from below $70 before the Iran war.”

“Looking at the consumer price index metrics for gasoline, gas prices have risen 39% since Trump began his second term, with much of that increase coming this year as a result of the war with Iran.”

“Overall price increases have largely driven by the US-Israel war with Iran, which has caused energy prices to soar.”

“The figures will likely underscore the lingering impact of the Iran war on gas prices and the stubborn persistence of inflation, which has fallen sharply from a 9.1% peak in 2022 but has ticked higher since the war began in late February.”

“Two-thirds of Americans said the soaring gas prices triggered by Trump’s Iran war were either a “very serious” or a “somewhat serious” problem.”

“Affordability has taken center stage ahead of the midterms, with Democrats pulling ahead in some early polls, as Americans grow frustrated with high prices at gas pumps and grocery stores amid the Iran war.”

“The Federal Reserve is expected to stand pat on interest rates on Wednesday (October 28, 2026) even though inflation has accelerated in the past couple of months as the Iran war has caused spikes in oil and gas prices.”

“Fuel costs for the company have risen over 300 per cent since the start of the US-Israel war on Iran, Villa Vie Residences said, making the “current operating model extremely challenging”.”

“Oil prices spiked on Thursday after a bombshell report revealed Donald Trump and Israel have drawn up plans to unleash new attacks on Iran once the midterm elections are over An oil tanker burns after being hit by an Iranian strike in the ship-to-ship…”

“That will add to the costs headache facing firms already being pummelled by the impact of Donald Trump’s Iran war, which has resulted in surging oil and gas prices.”

“NEW YORK (AP) — More than seven months into the U.S. war with Iran, sharply higher fuel prices are making it more expensive to drive and fly and adding to the cost of some goods, prolonging the strain on American households as the midterm elections approach.”

““This deal won’t lower costs for the American people, who are already paying for Trump’s failed war of choice in Iran.”

“In February, Trump launched the war against Iran, causing one of the worst energy supply shocks in history.”

“Energy prices have been especially high since the Iran war, with average gas prices at the pump crossing $1.20 more per gallon compared with a year ago.”

“The price of regular gas, which most consumers buy, also remains elevated by more than 45% since late February, when the Iran war was launched.”

“Already, the average nationwide price of diesel is up 70% since the U.S. and Israel attacked Iran on Feb. 28.”

“Prices have been swinging between $US96 and nearly $US110 over the last month over uncertainty about the US war with Iran and its continued impact on global energy supplies and inflation.”

“At the same time, restrictions on food stamps from the Republicans’ “big, beautiful bill” have driven up demand, while rising gas prices because of the Iran war have cut into the budgets of households and food banks alike.”