Anonymousabout 1 hour ago
The 2026 Iran war has driven U.S. gas prices up 50% to $4.30 per gallon, with the lowest-income quintile now spending four times as much of their after-tax income on fuel as the wealthiest households. A New York Fed study found that low-income Americans cut consumption by 7% yet still spent 12% more at the pump, while emergency policy tools from SPR releases to gas tax holidays have produced mixed results and fuel assistance programs remain underfunded relative to the scale of new household costs.